Eagle Bay Advisors LLC Has $55,000 Stake in American International Group, Inc. (NYSE:AIG)

Eagle Bay Advisors LLC reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 15.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the insurance provider’s stock after selling 132 shares during the quarter. Eagle Bay Advisors LLC’s holdings in American International Group were worth $55,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in shares of American International Group during the 1st quarter worth about $29,000. Valued Wealth Advisors LLC grew its stake in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after buying an additional 276 shares during the last quarter. CENTRAL TRUST Co grew its stake in American International Group by 123.8% during the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after buying an additional 250 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of American International Group in the fourth quarter valued at approximately $40,000. Finally, Scarborough Advisors LLC acquired a new position in shares of American International Group in the 4th quarter worth approximately $40,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AIG shares. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. Bank of America lowered their target price on American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research note on Thursday, July 11th. BMO Capital Markets increased their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Wells Fargo & Company boosted their target price on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, American International Group has a consensus rating of “Hold” and a consensus price target of $82.50.

Insider Transactions at American International Group

In other American International Group 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 value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

American International Group Trading Up 0.4 %

Shares of American International Group stock traded up $0.34 during trading on Thursday, reaching $78.92. 1,358,571 shares of the company were exchanged, compared to its average volume of 4,115,316. American International Group, Inc. has a twelve month low of $57.02 and a twelve month high of $80.83. The business has a 50-day moving average price of $76.58 and a 200-day moving average price of $74.09. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $52.38 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 2.41 and a beta of 1.08.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The company had revenue of $12.58 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $1.63 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 6.87 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. The ex-dividend date was Friday, June 14th. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.03%. American International Group’s dividend payout ratio (DPR) is 23.88%.

American International Group declared that its Board of Directors has authorized a share buyback plan on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually an indication 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.