Federated Hermes Inc. Decreases Position in American International Group, Inc. (NYSE:AIG)

Federated Hermes Inc. lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 395,562 shares of the insurance provider’s stock after selling 7,168 shares during the quarter. Federated Hermes Inc.’s holdings in American International Group were worth $26,799,000 at the end of the most recent quarter.

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

Insider Buying and Selling at American International Group

In related news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other American International Group news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now 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 available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

American International Group Stock Up 1.7 %

Shares of American International Group stock opened at $74.23 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. American International Group, Inc. has a 1-year low of $48.95 and a 1-year high of $78.95. The business has a 50-day moving average of $74.21 and a 200-day moving average of $68.50. The company has a market capitalization of $50.55 billion, a PE ratio of 14.88, a P/E/G ratio of 1.04 and a beta of 1.03.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating 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 analyst estimates of $11.61 billion. During the same quarter last year, the firm earned $1.36 EPS. American International Group’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that American International Group, Inc. will post 7.03 EPS for the current fiscal 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 issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.94%. American International Group’s dividend payout ratio is presently 28.86%.

Analysts Set New Price Targets

Several equities analysts recently commented on AIG shares. UBS Group upped their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Keefe, Bruyette & Woods lifted their target price on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Piper Sandler upped their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price objective on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $79.18.

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.