American International Group, Inc. (NYSE:AIG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 778,892 shares of the insurance provider’s stock after selling 8,712 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of American International Group worth $52,770,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in AIG. OFI Invest Asset Management acquired a new stake in shares of American International Group during the third quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in shares of American International Group during the third quarter valued at about $32,000. CNB Bank acquired a new position in shares of American International Group in the third quarter valued at approximately $42,000. SouthState Corp grew its holdings in shares of American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of American International Group by 41.7% in the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 232 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of American International Group stock opened at $78.90 on Thursday. The firm’s fifty day simple moving average is $76.47 and its 200-day simple moving average is $70.59. The stock has a market capitalization of $52.36 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 1.12 and a beta of 1.02. American International Group, Inc. has a 12 month low of $52.13 and a 12 month high of $80.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the company posted $1.63 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 7.08 earnings per share for the current year.

American International Group declared that its board has authorized a share buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.40 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s payout ratio is currently 21.49%.

Insider Buying and Selling at American International Group

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

Analyst Ratings Changes

A number of research analysts recently weighed in on AIG shares. BMO Capital Markets lifted their price objective on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday. Royal Bank of Canada lifted their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Piper Sandler lifted their price objective on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. UBS Group lifted their price objective on shares of American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Citigroup lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, American International Group has an average rating of “Hold” and a consensus target price of $81.06.

American International Group Profile

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.