Geneos Wealth Management Inc. Decreases Stock Position in American International Group, Inc. (NYSE:AIG)

Geneos Wealth Management Inc. lowered its stake in American International Group, Inc. (NYSE:AIG) by 55.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,464 shares of the insurance provider’s stock after selling 4,378 shares during the period. Geneos Wealth Management Inc.’s holdings in American International Group were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. EP Wealth Advisors LLC purchased a new position in shares of American International Group in the 3rd quarter valued at about $206,000. American Century Companies Inc. raised its position in American International Group by 22.6% during the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after buying an additional 77,874 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in American International Group during the 3rd quarter worth $102,000. Massmutual Trust Co. FSB ADV raised its position in American International Group by 34.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,392 shares of the insurance provider’s stock worth $162,000 after buying an additional 619 shares during the last quarter. Finally, Baron Wealth Management LLC increased its holdings in shares of American International Group by 16.7% in the 4th quarter. Baron Wealth Management LLC now owns 7,092 shares of the insurance provider’s stock valued at $480,000 after purchasing an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. JPMorgan Chase & Co. increased their price target on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Tuesday. Finally, BMO Capital Markets increased their price target on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, May 13th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and a consensus target price of $82.50.

Insider Buying and Selling

In related news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $76.95 on Friday. American International Group, Inc. has a 12-month low of $57.02 and a 12-month high of $80.83. The stock has a market capitalization of $51.07 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.07 and a beta of 1.08. The firm’s 50-day moving average is $76.72 and its two-hundred day moving average is $73.75. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29.

American International Group (NYSE:AIG) last released its quarterly 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. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to analysts’ expectations of $12.04 billion. During the same period last year, the company earned $1.63 EPS. Equities analysts predict that American International Group, Inc. will post 7.07 earnings per share for the current year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.40 dividend. The ex-dividend date was 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 dividend yield of 2.08%. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

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

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.