American International Group, Inc. (NYSE:AIG) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 717,326 shares of the insurance provider’s stock after selling 54,875 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of American International Group worth $55,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AIG. Norges Bank purchased a new position in American International Group during the fourth quarter worth approximately $746,005,000. Balyasny Asset Management L.P. raised its holdings in shares of American International Group by 95.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after acquiring an additional 597,661 shares during the period. Third Point LLC grew its holdings in shares of American International Group by 16.9% in the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after purchasing an additional 500,000 shares during the period. Junto Capital Management LP increased its position in American International Group by 29.2% during the fourth quarter. Junto Capital Management LP now owns 1,864,914 shares of the insurance provider’s stock worth $126,348,000 after purchasing an additional 421,003 shares during the last quarter. Finally, Bank of Nova Scotia raised its stake in American International Group by 571.4% during the fourth quarter. Bank of Nova Scotia now owns 445,408 shares of the insurance provider’s stock worth $30,175,000 after purchasing an additional 379,064 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on AIG shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Thursday, June 27th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. Bank of America lowered their price target on American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Piper Sandler boosted their price objective 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. Finally, Morgan Stanley lowered their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. 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, the company currently has an average rating of “Hold” and a consensus price target of $82.50.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was 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 approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by insiders.

American International Group Stock Down 4.7 %

AIG stock traded down $3.64 during mid-day trading on Friday, reaching $74.42. The company had a trading volume of 7,045,217 shares, compared to its average volume of 4,759,015. American International Group, Inc. has a fifty-two week low of $57.02 and a fifty-two week high of $80.83. The company has a market capitalization of $49.39 billion, a price-to-earnings ratio of 11.11, a price-to-earnings-growth ratio of 2.41 and a beta of 1.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day simple moving average of $76.43 and a 200 day simple moving average of $74.20.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. Analysts forecast that American International Group, Inc. will post 6.45 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, June 14th. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio is 23.88%.

American International Group announced that its Board of Directors has approved a stock buyback 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 purchase up to 19.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.