DekaBank Deutsche Girozentrale Acquires 10,581 Shares of American International Group, Inc. (NYSE:AIG)

DekaBank Deutsche Girozentrale lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,369 shares of the insurance provider’s stock after acquiring an additional 10,581 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in American International Group were worth $11,081,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Essex Financial Services Inc. bought a new position in American International Group during the fourth quarter worth $260,000. TCW Group Inc. bought a new stake in American International Group during the 4th quarter valued at $724,000. Dynamic Technology Lab Private Ltd acquired a new position in American International Group during the fourth quarter worth $948,000. Sequoia Financial Advisors LLC grew its holdings in shares of American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock valued at $2,629,000 after buying an additional 21,279 shares during the last quarter. Finally, Eudaimonia Partners LLC acquired a new stake in shares of American International Group in the 4th quarter worth about $635,000. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AIG. Wells Fargo & Company increased their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Citigroup cut their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Piper Sandler dropped their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Thursday, June 27th. Finally, HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Wednesday, May 15th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.38.

American International Group Stock Performance

Shares of NYSE AIG traded down $2.94 during midday trading on Friday, hitting $71.97. The company’s stock had a trading volume of 7,453,145 shares, compared to its average volume of 4,655,245. The firm has a market capitalization of $47.76 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 2.48 and a beta of 1.07. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83. 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 stock has a fifty day moving average price of $75.93 and a 200 day moving average price of $74.79.

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

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.22%. American International Group’s dividend payout ratio is currently 23.88%.

American International Group declared that its board has initiated a share buyback program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at American International Group

In related news, Director W Don Cornwell 1,000 shares of the stock in a transaction dated Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were 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 approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director W Don Cornwell 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The disclosure for this trade can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.