Charles Schwab Investment Management Inc. Increases Holdings in American International Group, Inc. (NYSE:AIG)

Charles Schwab Investment Management Inc. boosted its position in American International Group, Inc. (NYSE:AIG) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,395,566 shares of the insurance provider’s stock after buying an additional 32,065 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of American International Group worth $297,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in American International Group in the 3rd quarter worth $26,000. Headlands Technologies LLC bought a new stake in shares of American International Group in the 3rd quarter valued at about $32,000. CNB Bank purchased a new stake in American International Group during the 3rd quarter valued at about $42,000. SouthState Corp grew its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 217 shares during the last quarter. Finally, Blue Trust Inc. grew its position in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after acquiring an additional 232 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIG. TD Cowen initiated coverage on shares of American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price on the stock. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. Morgan Stanley increased their target price on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Piper Sandler raised their target price on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, BMO Capital Markets dropped their price objective on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

Insider Activity at American International Group

In other news, Director John C. Inglis bought 659 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other American International Group news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

American International Group Stock Up 0.1 %

AIG traded up $0.09 during midday trading on Wednesday, reaching $80.37. The company’s stock had a trading volume of 1,198,995 shares, compared to its average volume of 3,972,586. American International Group, Inc. has a 1 year low of $51.86 and a 1 year high of $80.76. The stock’s 50-day moving average is $75.73 and its 200-day moving average is $69.84. The firm has a market capitalization of $53.34 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 1.11 and a beta of 1.02. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings results 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. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.54% and a net margin of 9.98%. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, research analysts expect that American International Group, Inc. will post 7.05 EPS for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.99%. American International Group’s payout ratio is presently 21.49%.

American International Group declared that its board has authorized a stock repurchase plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership 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.