Kestra Private Wealth Services LLC Increases Holdings in American International Group, Inc. (NYSE:AIG)

Kestra Private Wealth Services LLC grew its holdings in American International Group, Inc. (NYSE:AIG) by 2.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 18,810 shares of the insurance provider’s stock after acquiring an additional 428 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in American International Group were worth $1,274,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Invesco Ltd. lifted its position in American International Group by 3.0% in the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after acquiring an additional 503,547 shares during the last quarter. FMR LLC lifted its holdings in shares of American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after purchasing an additional 604,901 shares during the last quarter. Northern Trust Corp boosted its position in shares of American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after purchasing an additional 133,828 shares during the period. LSV Asset Management grew its stake in American International Group by 13.2% during the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after buying an additional 639,079 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in American International Group by 18.7% during the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after buying an additional 319,948 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American International Group news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was bought 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 owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Evercore ISI increased their price objective on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. Citigroup lifted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets decreased their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, Royal Bank of Canada boosted their price target on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

American International Group Trading Up 0.5 %

Shares of AIG stock opened at $78.48 on Friday. The business’s fifty day moving average price is $75.24 and its 200 day moving average price is $69.36. The firm has a market capitalization of $53.44 billion, a PE ratio of 11.71, a P/E/G ratio of 1.09 and a beta of 1.02. 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 $79.70.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion for 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 10.68%. During the same period in the previous year, the firm earned $1.63 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 6.95 EPS for the current fiscal year.

American International Group announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. American International Group’s dividend payout ratio (DPR) is 21.49%.

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.