Bogart Wealth LLC Buys 3,712 Shares of American International Group, Inc. (NYSE:AIG)

Bogart Wealth LLC lifted its stake in American International Group, Inc. (NYSE:AIG) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 117,736 shares of the insurance provider’s stock after acquiring an additional 3,712 shares during the period. Bogart Wealth LLC’s holdings in American International Group were worth $7,977,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of American International Group by 3.0% during the third 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 in the last quarter. FMR LLC increased its position in American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares in the last quarter. Northern Trust Corp boosted its holdings in American International Group by 1.8% in the third quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock worth $467,305,000 after acquiring an additional 133,828 shares in the last quarter. LSV Asset Management grew its stake in shares of American International Group by 5.3% during the fourth quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock worth $392,065,000 after acquiring an additional 290,061 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of American International Group by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider’s stock worth $297,800,000 after buying an additional 32,065 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on AIG. TD Cowen began coverage on American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price objective on the stock. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $75.00 to $77.00 in a research report 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 company an “outperform” rating in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, JPMorgan Chase & Co. raised their target price on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.44.

Insider Buying and Selling at American International Group

In related news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred 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 transaction, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group 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 sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $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 0.2 %

Shares of AIG traded up $0.13 during midday trading on Thursday, reaching $80.02. The stock had a trading volume of 339,786 shares, compared to its average volume of 3,952,819. The company has a market cap of $53.11 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 1.11 and a beta of 1.02. The company’s fifty day simple moving average is $75.73 and its two-hundred day simple moving average is $69.84. 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, Inc. has a 1-year low of $51.86 and a 1-year high of $80.76.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. American International Group’s dividend payout ratio is 21.49%.

American International Group declared that its Board of Directors has approved a stock 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 usually an indication that the company’s leadership 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.