Intrust Bank NA Acquires Shares of 3,657 American International Group, Inc. (NYSE:AIG)

Intrust Bank NA acquired a new position in shares of American International Group, Inc. (NYSE:AIG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,657 shares of the insurance provider’s stock, valued at approximately $248,000.

Several other institutional investors and hedge funds also recently modified their holdings of AIG. Mather Group LLC. lifted its position in American International Group by 12.3% during the 4th quarter. Mather Group LLC. now owns 10,016 shares of the insurance provider’s stock worth $679,000 after acquiring an additional 1,100 shares in the last quarter. Fiduciary Group LLC boosted its stake in shares of American International Group by 8.8% in the fourth quarter. Fiduciary Group LLC now owns 4,943 shares of the insurance provider’s stock valued at $335,000 after purchasing an additional 400 shares during the period. Headlands Technologies LLC grew its holdings in American International Group by 3,037.9% during the 4th quarter. Headlands Technologies LLC now owns 16,725 shares of the insurance provider’s stock valued at $1,133,000 after purchasing an additional 16,192 shares in the last quarter. Kovack Advisors Inc. lifted its stake in shares of American International Group by 13.3% in the fourth quarter. Kovack Advisors Inc. now owns 4,319 shares of the insurance provider’s stock worth $293,000 after acquiring an additional 507 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of American International Group in the 4th quarter valued at approximately $247,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIG. Bank of America lowered shares of American International Group from a “buy” rating to a “neutral” rating and upped their target price for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Keefe, Bruyette & Woods raised their price target 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. TD Cowen initiated coverage on shares of American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective for the company. UBS Group lifted their target price on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Finally, Evercore ISI increased their price target on American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.38.

Insider Activity at American International Group

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

American International Group Stock Performance

AIG stock opened at $75.83 on Thursday. The company has a market capitalization of $51.64 billion, a P/E ratio of 15.20, a PEG ratio of 1.09 and a beta of 1.03. 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 has a 50-day simple moving average of $75.10 and a 200 day simple moving average of $69.30. American International Group, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $78.95.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 7.78% and a return on equity of 10.68%. During the same period in the previous year, the firm earned $1.63 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.90%. American International Group’s payout ratio is currently 28.86%.

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

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.