Procyon Advisors LLC Buys 2,306 Shares of American International Group, Inc. (NYSE:AIG)

Procyon Advisors LLC grew its stake in American International Group, Inc. (NYSE:AIG) by 15.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,576 shares of the insurance provider’s stock after acquiring an additional 2,306 shares during the quarter. Procyon Advisors LLC’s holdings in American International Group were worth $1,191,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of American International Group by 18.7% during the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after purchasing an additional 319,948 shares in the last quarter. American Century Companies Inc. increased its position in American International Group by 22.6% during the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after acquiring an additional 77,874 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its position in American International Group by 4.0% during the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 682,901 shares of the insurance provider’s stock valued at $46,267,000 after acquiring an additional 26,401 shares during the last quarter. LSV Asset Management increased its position in American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after acquiring an additional 639,079 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in American International Group during the third quarter valued at $1,523,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on AIG. TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective for the company. BMO Capital Markets reduced their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. HSBC initiated coverage on American International Group in a research report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price target for the company. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and upped their price target for the stock from $75.00 to $77.00 in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company upped their price target on American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.06.

American International Group Trading Up 0.2 %

Shares of NYSE AIG traded up $0.19 during midday trading on Thursday, hitting $78.53. The company’s stock had a trading volume of 342,407 shares, compared to its average volume of 3,957,608. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $71.72 and its two-hundred day moving average is $66.67. American International Group, Inc. has a 12-month low of $47.99 and a 12-month high of $78.70. The firm has a market cap of $53.48 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, equities research analysts expect that American International Group, Inc. will post 7.1 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.83%. American International Group’s payout ratio is currently 28.86%.

Insiders Place Their Bets

In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John C. Inglis purchased 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the transaction, the director now owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.49% of the stock is currently owned by company insiders.

American International Group Company 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.