First Horizon Advisors Inc. Lowers Stock Holdings in American International Group, Inc. (NYSE:AIG)

First Horizon Advisors Inc. trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 23.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,947 shares of the insurance provider’s stock after selling 1,504 shares during the period. First Horizon Advisors Inc.’s holdings in American International Group were worth $335,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. LSV Asset Management raised its holdings in American International Group by 13.2% in the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after acquiring an additional 639,079 shares during the last quarter. FMR LLC raised its holdings in American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after acquiring an additional 604,901 shares during the last quarter. Invesco Ltd. grew its position in American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after purchasing an additional 503,547 shares during the period. Westfield Capital Management Co. LP grew its position in American International Group by 55.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock worth $80,983,000 after purchasing an additional 476,104 shares during the period. Finally, Cercano Management LLC bought a new stake in American International Group in the 3rd quarter worth approximately $24,073,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Up 0.5 %

Shares of AIG stock opened at $78.48 on Monday. The stock has a market cap of $53.44 billion, a P/E ratio of 11.71, a PEG ratio of 1.13 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 has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company’s fifty day simple moving average is $75.39 and its two-hundred day simple moving average is $69.56.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period in the prior year, the company earned $1.63 EPS. Analysts predict that American International Group, Inc. will post 7.05 EPS for the current fiscal year.

American International Group announced that its board has authorized a share buyback program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is currently 23.88%.

Insider Activity

In other American International Group news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased 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 of the company’s stock, valued at $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the transaction, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Keefe, Bruyette & Woods lifted their target price on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Morgan Stanley boosted their price objective on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. Piper Sandler boosted their price objective on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company upped their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

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.