Victory Capital Management Inc. Raises Position in American International Group, Inc. (NYSE:AIG)

Victory Capital Management Inc. grew its position in American International Group, Inc. (NYSE:AIG) by 79.4% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 502,303 shares of the insurance provider’s stock after buying an additional 222,372 shares during the period. Victory Capital Management Inc.’s holdings in American International Group were worth $34,031,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. OFI Invest Asset Management purchased a new position in American International Group in the third quarter worth about $26,000. Headlands Technologies LLC purchased a new position in American International Group in the third quarter worth about $32,000. CNB Bank purchased a new position in American International Group in the third quarter worth about $42,000. SouthState Corp raised its holdings in American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after buying an additional 217 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in American International Group by 41.7% in the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after buying an additional 232 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price objective on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Citigroup boosted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Bank of America cut 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 report on Tuesday, February 20th. Wells Fargo & Company boosted their price objective on shares of American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.44.

Insider Buying and Selling at American International Group

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

American International Group Stock Performance

AIG opened at $79.97 on Tuesday. The firm has a market cap of $53.07 billion, a P/E ratio of 11.94, a PEG ratio of 1.11 and a beta of 1.02. American International Group, Inc. has a 1-year low of $51.86 and a 1-year high of $80.13. The company has a 50 day simple moving average of $75.56 and a two-hundred day simple moving average of $69.69. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. The business had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period in the prior year, the business posted $1.63 earnings per share. Equities analysts forecast that American International Group, Inc. will post 7.05 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.00%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is 21.49%.

American International Group announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.