US Bancorp DE Sells 21,557 Shares of American International Group, Inc. (NYSE:AIG)

US Bancorp DE lessened its position in American International Group, Inc. (NYSE:AIGFree Report) by 9.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 204,826 shares of the insurance provider’s stock after selling 21,557 shares during the period. US Bancorp DE’s holdings in American International Group were worth $13,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after purchasing an additional 154 shares during the period. Cary Street Partners Investment Advisory LLC increased its holdings in shares of American International Group by 0.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after purchasing an additional 157 shares during the period. Meeder Advisory Services Inc. increased its holdings in shares of American International Group by 1.3% during the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock worth $776,000 after purchasing an additional 162 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock worth $292,000 after purchasing an additional 167 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in shares of American International Group by 2.7% during the 4th quarter. Lindbrook Capital LLC now owns 6,764 shares of the insurance provider’s stock worth $458,000 after purchasing an additional 176 shares during the period. Institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AIG has been the topic of several research reports. Evercore ISI boosted their price objective on shares of American International Group from $80.00 to $81.00 and gave the stock an “in-line” rating in a report on Friday, May 3rd. Piper Sandler upped their target price on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. BMO Capital Markets upped their target price on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and upped their target price for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.06.

Check Out Our Latest Report on American International Group

American International Group Price Performance

NYSE:AIG opened at $78.03 on Monday. The firm has a market cap of $51.79 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 0.93 and a beta of 1.02. American International Group, Inc. has a 12 month low of $52.78 and a 12 month high of $80.83. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $76.94 and its two-hundred day moving average price is $71.43.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The firm 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 10.54%. During the same period in the previous year, the business earned $1.63 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 7.08 EPS for the current fiscal year.

American International Group declared that its Board of Directors has authorized a stock 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 purchase up to 19.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.05%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio is presently 21.49%.

American International Group Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIGFree Report).

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.