Vicus Capital Has $261,000 Stock Holdings in American International Group, Inc. (NYSE:AIG)

Vicus Capital trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 5.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,516 shares of the insurance provider’s stock after selling 200 shares during the quarter. Vicus Capital’s holdings in American International Group were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. International Assets Investment Management LLC acquired a new position in shares of American International Group in the 4th quarter valued at about $26,590,000. abrdn plc increased its position in American International Group by 19.6% in the 4th quarter. abrdn plc now owns 598,143 shares of the insurance provider’s stock valued at $40,524,000 after buying an additional 98,143 shares in the last quarter. Lindbrook Capital LLC increased its position in American International Group by 2.7% in the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock valued at $458,000 after buying an additional 176 shares in the last quarter. Signaturefd LLC increased its position in American International Group by 4.8% in the 4th quarter. Signaturefd LLC now owns 5,704 shares of the insurance provider’s stock valued at $386,000 after buying an additional 262 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd increased its position in American International Group by 28.8% in the 4th quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 15,010 shares of the insurance provider’s stock valued at $1,017,000 after buying an additional 3,358 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 39,964,738 shares of company stock worth $1,132,432,195. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG stock traded up $0.48 during trading on Thursday, hitting $74.83. The company’s stock had a trading volume of 641,497 shares, compared to its average volume of 4,174,701. The company has a market cap of $49.66 billion, a PE ratio of 11.10, a P/E/G ratio of 2.48 and a beta of 1.07. 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 business has a fifty day moving average of $74.83 and a 200-day moving average of $75.11. American International Group, Inc. has a 52 week low of $57.14 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, research analysts anticipate that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group declared that its board has approved a stock repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.14%. American International Group’s payout ratio is 23.88%.

Analyst Ratings Changes

A number of brokerages recently commented on AIG. TD Cowen decreased their target price on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Evercore ISI decreased their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Wednesday, May 15th. Finally, Morgan Stanley decreased their price objective on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $83.47.

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.