Perigon Wealth Management LLC Acquires Shares of 4,756 American International Group, Inc. (NYSE:AIG)

Perigon Wealth Management LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 4,756 shares of the insurance provider’s stock, valued at approximately $322,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIG. OFI Invest Asset Management acquired a new stake in shares of American International Group during the 3rd quarter worth $26,000. Headlands Technologies LLC acquired a new stake in shares of American International Group during the 3rd quarter worth $32,000. CNB Bank acquired a new stake in shares of American International Group during the 3rd quarter worth $42,000. SouthState Corp grew its holdings 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 worth $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings 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 worth $53,000 after purchasing an additional 232 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AIG. UBS Group increased their target price on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. JPMorgan Chase & Co. raised their price objective 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. Citigroup raised their price objective on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price objective on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, BMO Capital Markets reduced their price objective 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.06.

Insider Activity at American International Group

In related news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other American International Group news, Director John C. Inglis purchased 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of American International Group 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 $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

American International Group Trading Up 1.1 %

Shares of American International Group stock opened at $73.82 on Wednesday. The stock has a market capitalization of $50.27 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.04 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. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $78.95. The stock has a 50 day moving average price of $73.96 and a two-hundred day moving average price of $68.27.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.36 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 7.11 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.95%. American International Group’s payout ratio is 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.