Bleakley Financial Group LLC Purchases 692 Shares of American International Group, Inc. (NYSE:AIG)

Bleakley Financial Group LLC boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,891 shares of the insurance provider’s stock after purchasing an additional 692 shares during the quarter. Bleakley Financial Group LLC’s holdings in American International Group were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of American International Group in the 3rd quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. CNB Bank bought a new stake in shares of American International Group in the 3rd quarter valued at about $42,000. SouthState Corp increased its stake in shares of American International Group by 41.7% in the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 217 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 232 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Peter Zaffino sold 333,000 shares of the 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 sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Peter Zaffino sold 333,000 shares of the 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 sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by insiders.

American International Group Trading Down 1.6 %

NYSE:AIG opened at $74.15 on Friday. The company has a market cap of $50.49 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The business has a 50 day moving average price of $73.69 and a two-hundred day moving average price of $67.91.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. As a group, analysts expect that American International Group, Inc. will post 7.1 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s payout ratio is presently 28.86%.

Analysts Set New Price Targets

A number of analysts have recently commented on AIG shares. Piper Sandler reaffirmed an “overweight” rating and issued a $87.00 price target on shares of American International Group in a research note on Monday, April 1st. UBS Group boosted their price objective on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Wells Fargo & Company boosted their price objective on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday. HSBC initiated coverage on American International Group in a research report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective for the company. Finally, Evercore ISI boosted their price objective on American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research report on Thursday. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $77.35.

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.