International Assets Investment Management LLC Takes $26.59 Million Position in American International Group, Inc. (NYSE:AIG)

International Assets Investment Management LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 39,244 shares of the insurance provider’s stock, valued at approximately $26,590,000.

A number of other large investors also recently bought and sold shares of AIG. Invesco Ltd. lifted its stake in shares of American International Group by 3.0% in the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after buying an additional 503,547 shares in the last quarter. FMR LLC boosted its position in shares of American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after purchasing an additional 604,901 shares during the period. Northern Trust Corp increased its holdings in American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after purchasing an additional 133,828 shares during the last quarter. LSV Asset Management raised its position in American International Group by 13.2% in the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after purchasing an additional 639,079 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of American International Group by 18.7% during the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after buying an additional 319,948 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 0.5 %

Shares of American International Group stock opened at $78.48 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The firm has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. American International Group, Inc. has a 52-week low of $48.95 and a 52-week high of $79.70. The company’s 50-day simple moving average is $75.24 and its 200-day simple moving average is $69.36.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a return on equity of 10.68% and a net margin of 9.98%. The company had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group declared that its Board of Directors has authorized a share buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows 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 board of directors believes its stock is undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s payout ratio is presently 21.49%.

Insider Transactions at American International Group

In related news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction dated 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 sale, 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 legal filing with the SEC, which can be accessed through this link. In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $75.00 to $77.00 in a research report on Tuesday, February 20th. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. UBS Group boosted their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Citigroup raised their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

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.