Pinnacle Wealth Management Advisory Group LLC Increases Stock Position in American International Group, Inc. (NYSE:AIG)

Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,574 shares of the insurance provider’s stock after buying an additional 823 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in American International Group were worth $378,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AIG. Park Avenue Securities LLC boosted its holdings in shares of American International Group by 1.8% in the 3rd quarter. Park Avenue Securities LLC now owns 26,147 shares of the insurance provider’s stock worth $1,585,000 after purchasing an additional 457 shares in the last quarter. Graypoint LLC boosted its position in shares of American International Group by 2.5% in the 3rd quarter. Graypoint LLC now owns 7,760 shares of the insurance provider’s stock worth $470,000 after purchasing an additional 191 shares in the last quarter. Conning Inc. increased its stake in American International Group by 4.5% during the 3rd quarter. Conning Inc. now owns 5,599 shares of the insurance provider’s stock valued at $339,000 after purchasing an additional 240 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of American International Group by 4.1% during the third quarter. TD Asset Management Inc now owns 376,986 shares of the insurance provider’s stock valued at $22,845,000 after purchasing an additional 14,844 shares in the last quarter. Finally, TIAA Trust National Association bought a new position in shares of American International Group during the 3rd quarter valued at $419,000. 90.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on AIG. UBS Group upped their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada increased their price target on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Evercore ISI raised their target price on shares of American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. Piper Sandler boosted their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Finally, TD Cowen initiated coverage on American International Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.44.

American International Group Stock Up 0.2 %

American International Group stock traded up $0.12 during midday trading on Thursday, hitting $80.01. 1,273,512 shares of the company’s stock were exchanged, compared to its average volume of 3,963,625. The company has a market cap of $53.10 billion, a PE ratio of 11.92, a P/E/G ratio of 1.11 and a beta of 1.02. American International Group, Inc. has a 12 month low of $51.86 and a 12 month high of $80.76. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50-day moving average of $75.73 and a two-hundred day moving average of $69.84.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter in the previous year, the firm earned $1.63 EPS. As a group, analysts expect that American International Group, Inc. will post 7.05 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. American International Group’s dividend payout ratio (DPR) is 21.49%.

American International Group announced that its Board of Directors has initiated a share buyback program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.