Denali Advisors LLC Has $969,000 Holdings in American International Group, Inc. (NYSE:AIG)

Denali Advisors LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 17.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,400 shares of the insurance provider’s stock after purchasing an additional 1,800 shares during the quarter. Denali Advisors LLC’s holdings in American International Group were worth $969,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Capital Research Global Investors grew its holdings in shares of American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after purchasing an additional 176,286 shares in the last quarter. Norges Bank bought a new position in shares of American International Group during the 4th quarter worth approximately $746,005,000. Putnam Investments LLC lifted its position in shares of American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after buying an additional 300,712 shares during the period. LSV Asset Management lifted its position in shares of American International Group by 5.3% during the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock worth $392,065,000 after buying an additional 290,061 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of American International Group by 0.7% during the 4th 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 period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of several analyst reports. Morgan Stanley raised their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler lifted their price objective on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. lifted 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Thursday, June 27th. Finally, Wells Fargo & Company lifted their price objective on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $81.38.

Insider Buying and Selling

In related news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Performance

NYSE:AIG traded down $0.18 on Wednesday, hitting $75.15. The company’s stock had a trading volume of 2,341,227 shares, compared to its average volume of 4,134,611. American International Group, Inc. has a one year low of $56.88 and a one year high of $80.83. The stock has a fifty day moving average of $76.74 and a two-hundred day moving average of $73.42. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $49.87 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. Research analysts predict that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.13%. This is an increase from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio is currently 23.88%.

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