Allspring Global Investments Holdings LLC Purchases 29,876 Shares of American International Group, Inc. (NYSE:AIG)

Allspring Global Investments Holdings LLC lifted its position in American International Group, Inc. (NYSE:AIG) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,430 shares of the insurance provider’s stock after acquiring an additional 29,876 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in American International Group were worth $37,630,000 as of its most recent SEC filing.

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

American International Group Stock Down 0.7 %

NYSE:AIG opened at $73.67 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31. The company’s fifty day moving average price is $73.77 and its 200-day moving average price is $67.99. American International Group, Inc. has a 1-year low of $48.95 and a 1-year high of $78.95. The firm has a market capitalization of $50.17 billion, a P/E ratio of 14.76, a PEG ratio of 1.06 and a beta of 1.03.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for 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 period last year, the firm earned $1.36 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 7.11 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio is currently 28.86%.

Analyst Upgrades and Downgrades

AIG has been the subject of several recent analyst reports. Royal Bank of Canada boosted their price objective on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. TD Cowen assumed coverage on American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective for the company. UBS Group raised their price objective on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their target price on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, HSBC started coverage on shares of American International Group in a report on Thursday, December 28th. They set a “buy” rating and a $86.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, American International Group has an average rating of “Hold” and an average target price of $77.35.

Insider Buying and Selling at American International Group

In other news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director John C. Inglis bought 659 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated 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 approximately $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

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.