Carnegie Capital Asset Management LLC Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Carnegie Capital Asset Management LLC boosted its position in American International Group, Inc. (NYSE:AIG) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,685 shares of the insurance provider’s stock after purchasing an additional 900 shares during the period. Carnegie Capital Asset Management LLC’s holdings in American International Group were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. OFI Invest Asset Management purchased a new position in shares of American International Group during the 3rd quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in shares of American International Group during the 3rd quarter valued at about $32,000. CNB Bank purchased a new position in shares of American International Group during the 3rd quarter valued at about $42,000. SouthState Corp lifted its position in shares of 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 buying an additional 217 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of 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 buying an additional 232 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In other American International Group news, Director John C. Inglis acquired 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the company’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 sale, the chief executive officer now directly 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 available through this link. Also, Director John C. Inglis bought 659 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AIG. Citigroup lifted their target price on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday. JPMorgan Chase & Co. lifted their target price on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. TD Cowen began coverage on American International Group in a research note on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Wells Fargo & Company lifted their target price on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, BMO Capital Markets decreased their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.06.

American International Group Price Performance

Shares of American International Group stock opened at $72.58 on Thursday. The stock has a market cap of $49.42 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.03 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a 50 day moving average price of $74.01 and a 200-day moving average price of $68.30. American International Group, Inc. has a one year low of $48.95 and a one year high of $78.95.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the business earned $1.36 EPS. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts expect that American International Group, Inc. will post 7.07 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date was Wednesday, March 13th. American International Group’s payout ratio is currently 28.86%.

American International Group Company 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.