American International Group, Inc. (NYSE:AIG) Position Lifted by Brookstone Capital Management

Brookstone Capital Management raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 8.4% during the first quarter, HoldingsChannel reports. The fund owned 6,043 shares of the insurance provider’s stock after acquiring an additional 470 shares during the quarter. Brookstone Capital Management’s holdings in American International Group were worth $472,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AIG. Rise Advisors LLC acquired a new stake in shares of American International Group in the 1st quarter worth about $29,000. Neo Ivy Capital Management acquired a new stake in shares of American International Group in the 4th quarter worth about $40,000. Scarborough Advisors LLC acquired a new stake in shares of American International Group in the 4th quarter worth about $40,000. Blue Trust Inc. increased its holdings in shares of American International Group by 41.7% in 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 period. Finally, EdgeRock Capital LLC acquired a new stake in shares of American International Group in the 4th quarter worth about $57,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

Shares of AIG opened at $74.24 on Monday. The firm’s 50 day moving average is $76.75 and its 200-day moving average is $73.30. The stock has a market capitalization of $49.27 billion, a P/E ratio of 11.08, a P/E/G ratio of 2.04 and a beta of 1.08. 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, Inc. has a 12-month low of $56.55 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 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 during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period last year, the company posted $1.63 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 7.02 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. This represents a $1.60 annualized dividend and a dividend yield of 2.16%. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group announced that its board has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AIG. Citigroup increased their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley increased their price objective 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 shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Wells Fargo & Company raised their target price on shares of American International Group from $80.00 to $82.00 and gave the company 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 target price on shares of American International Group in a research note on Thursday. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, American International Group currently has an average rating of “Hold” and a consensus target price of $81.38.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were 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 in the company, valued at $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate 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.