First Horizon Advisors Inc. Sells 1,504 Shares of American International Group, Inc. (NYSE:AIG)

First Horizon Advisors Inc. decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 23.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,947 shares of the insurance provider’s stock after selling 1,504 shares during the period. First Horizon Advisors Inc.’s holdings in American International Group were worth $335,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. LSV Asset Management boosted its holdings in American International Group by 13.2% in the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after purchasing an additional 639,079 shares during the period. FMR LLC boosted its holdings in American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after purchasing an additional 604,901 shares during the period. Invesco Ltd. boosted its holdings in American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares during the period. Westfield Capital Management Co. LP boosted its holdings in American International Group by 55.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock valued at $80,983,000 after purchasing an additional 476,104 shares during the period. Finally, Cercano Management LLC bought a new stake in American International Group in the 3rd quarter valued at about $24,073,000. Institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. TD Cowen assumed coverage on shares of American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. BMO Capital Markets cut their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Piper Sandler upped their price target 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. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $80.44.

American International Group Trading Up 0.5 %

NYSE:AIG opened at $78.48 on Monday. The firm’s fifty day moving average is $75.39 and its 200-day moving average is $69.56. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group, Inc. has a 52 week low of $48.95 and a 52 week high of $79.70. The firm has a market cap of $53.44 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.13 and a beta of 1.02.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period in the prior year, the firm earned $1.63 earnings per share. Equities analysts expect that American International Group, Inc. will post 7.05 earnings per share for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s payout ratio is currently 23.88%.

American International Group declared that its board has initiated a stock repurchase plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at American International Group

In related news, Director John C. Inglis acquired 659 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John C. Inglis acquired 659 shares of the stock in a transaction dated Thursday, March 14th. The stock was purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.