Corient Private Wealth LLC Sells 7,912 Shares of American International Group, Inc. (NYSE:AIG)

Corient Private Wealth LLC cut its holdings in American International Group, Inc. (NYSE:AIG) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 340,029 shares of the insurance provider’s stock after selling 7,912 shares during the period. Corient Private Wealth LLC’s holdings in American International Group were worth $23,037,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AIG. Headlands Technologies LLC bought a new position in American International Group during the 3rd quarter valued at about $32,000. SouthState Corp grew its holdings in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares during the last quarter. Blue Trust Inc. grew its holdings in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after purchasing an additional 232 shares during the last quarter. Highlander Capital Management LLC grew its holdings in American International Group by 144.9% during the 4th quarter. Highlander Capital Management LLC now owns 845 shares of the insurance provider’s stock valued at $57,000 after purchasing an additional 500 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in American International Group in the 4th quarter worth about $57,000. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AIG shares. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Morgan Stanley upped their target price on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Piper Sandler upped their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. BMO Capital Markets upped their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Finally, HSBC downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Wednesday, May 15th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $81.06.

Insider Activity at American International Group

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

American International Group Trading Down 1.7 %

NYSE:AIG opened at $77.58 on Friday. American International Group, Inc. has a 52 week low of $52.78 and a 52 week high of $80.83. The firm has a 50 day moving average of $76.91 and a 200 day moving average of $71.22. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $51.49 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 0.94 and a beta of 1.02.

American International Group (NYSE:AIG) last posted 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. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. As a group, sell-side analysts anticipate that American International Group, Inc. will post 7.08 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.40 per share. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.06%. American International Group’s dividend payout ratio is presently 21.49%.

American International Group announced that its board has authorized a share buyback program on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.