Homestead Advisers Corp Has $46.98 Million Stake in American International Group, Inc. (NYSE:AIG)

Homestead Advisers Corp grew its holdings in American International Group, Inc. (NYSE:AIG) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 693,413 shares of the insurance provider’s stock after acquiring an additional 1,300 shares during the quarter. Homestead Advisers Corp owned 0.10% of American International Group worth $46,979,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank bought a new stake in American International Group in the 4th quarter valued at $746,005,000. FMR LLC lifted its holdings in shares of American International Group by 5.0% in the third 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 in the last quarter. Invesco Ltd. boosted its position in shares of American International Group by 3.0% during the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after buying an additional 503,547 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of American International Group by 55.3% during the third quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock worth $80,983,000 after buying an additional 476,104 shares in the last quarter. Finally, Bank of Nova Scotia raised its position in American International Group by 571.4% in the 4th quarter. Bank of Nova Scotia now owns 445,408 shares of the insurance provider’s stock valued at $30,175,000 after buying an additional 379,064 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. UBS Group raised their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. BMO Capital Markets lifted their price target 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 downgraded shares of American International Group from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. Citigroup lifted their target price on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Finally, Morgan Stanley increased their price target on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $81.06.

Insider Activity

In other news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the completion of the transaction, the insider now directly owns 294,203,636 shares in the company, valued at approximately $8,590,746,171.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares in the company, valued at $8,590,746,171.20. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

AIG traded down $0.29 during trading on Thursday, hitting $75.62. The stock had a trading volume of 4,163,455 shares, compared to its average volume of 3,974,082. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The company has a 50 day moving average price of $77.09 and a 200-day moving average price of $72.15. American International Group, Inc. has a one year low of $54.84 and a one year high of $80.83. The firm has a market cap of $50.18 billion, a price-to-earnings ratio of 11.42, a P/E/G ratio of 0.91 and a beta of 1.08.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter in the previous year, the company earned $1.63 EPS. As a group, research analysts predict that American International Group, Inc. will post 7.09 EPS 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 $0.40 dividend. The ex-dividend date is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.12%. American International Group’s payout ratio is currently 21.49%.

American International Group announced that its board has authorized a share repurchase program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.