Fifth Third Wealth Advisors LLC Purchases 1,331 Shares of American International Group, Inc. (NYSE:AIG)

Fifth Third Wealth Advisors LLC lifted its position in American International Group, Inc. (NYSE:AIG) by 9.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,001 shares of the insurance provider’s stock after purchasing an additional 1,331 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in American International Group were worth $1,251,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in American International Group during the first quarter worth about $29,000. Neo Ivy Capital Management bought a new position in American International Group during the fourth quarter valued at approximately $40,000. Scarborough Advisors LLC purchased a new position in shares of American International Group during the fourth quarter worth approximately $40,000. Blue Trust Inc. lifted its holdings in shares of American International Group by 41.7% in the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. Finally, EdgeRock Capital LLC bought a new position in shares of American International Group during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 30,000,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Down 1.0 %

Shares of AIG stock traded down $0.73 during mid-day trading on Friday, reaching $74.24. 8,309,158 shares of the company’s stock traded hands, compared to its average volume of 4,131,519. The company’s 50-day moving average price is $76.71 and its 200-day moving average price is $73.14. The company has a market cap of $49.27 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.05 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a 12 month low of $56.55 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter last year, the firm earned $1.63 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is 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. This represents a $1.60 annualized dividend and a yield of 2.16%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s payout ratio is 23.88%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AIG. Wells Fargo & Company lifted their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. JPMorgan Chase & Co. boosted their price objective 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. Piper Sandler raised their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Morgan Stanley increased their price target 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. Finally, 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 research report on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $81.38.

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.