American International Group, Inc. (NYSE:AIG) Shares Bought by GAMMA Investing LLC

GAMMA Investing LLC grew its position in American International Group, Inc. (NYSE:AIG) by 29.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,770 shares of the insurance provider’s stock after acquiring an additional 2,018 shares during the period. GAMMA Investing LLC’s holdings in American International Group were worth $651,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Essex Financial Services Inc. purchased a new position in American International Group during the fourth quarter worth approximately $260,000. TCW Group Inc. purchased a new position in shares of American International Group during the 4th quarter valued at approximately $724,000. Dynamic Technology Lab Private Ltd purchased a new stake in American International Group in the 4th quarter worth $948,000. Sequoia Financial Advisors LLC raised its position in American International Group by 121.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock worth $2,629,000 after acquiring an additional 21,279 shares during the period. Finally, Eudaimonia Partners LLC purchased a new position in American International Group during the fourth quarter valued at $635,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on AIG shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Thursday, June 27th. BMO Capital Markets raised their target price on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Wednesday, May 15th. Bank of America raised their price objective on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Piper Sandler decreased their price target on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $82.38.

American International Group Trading Down 3.9 %

Shares of NYSE:AIG traded down $2.94 during mid-day trading on Friday, reaching $71.97. 7,453,145 shares of the company were exchanged, compared to its average volume of 4,655,245. American International Group, Inc. has a 1 year low of $57.02 and a 1 year high of $80.83. 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 firm’s 50-day simple moving average is $75.93 and its 200 day simple moving average is $74.84. The firm has a market cap of $47.76 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 2.48 and a beta of 1.07.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities research analysts forecast that American International Group, Inc. will post 6.4 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. American International Group’s dividend payout ratio is presently 23.88%.

American International Group announced that its board has authorized a share 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 usually an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at American International Group

In other American International Group news, Director W Don Cornwell 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the completion of the transaction, the insider now directly owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director W Don Cornwell 1,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 0.61% of the company’s stock.

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.