First Bank & Trust Acquires 2,114 Shares of American International Group, Inc. (NYSE:AIG)

First Bank & Trust raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 66.4% in the first quarter, HoldingsChannel.com reports. The firm owned 5,300 shares of the insurance provider’s stock after buying an additional 2,114 shares during the period. First Bank & Trust’s holdings in American International Group were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hodges Capital Management Inc. bought a new stake in American International Group during the 1st quarter valued at $211,000. Financial Management Professionals Inc. grew its stake in shares of American International Group by 16.3% in the 1st quarter. Financial Management Professionals Inc. now owns 5,057 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 710 shares in the last quarter. Register Financial Advisors LLC bought a new stake in shares of American International Group in the 1st quarter worth $219,000. Fifth Third Wealth Advisors LLC grew its stake in shares of American International Group by 9.1% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 16,001 shares of the insurance provider’s stock worth $1,251,000 after acquiring an additional 1,331 shares in the last quarter. Finally, Transform Wealth LLC bought a new stake in shares of American International Group in the 1st quarter worth $9,288,000. Institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 30,000,000 shares of the 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 sale, 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 legal filing with the SEC, which is available at this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AIG. Wells Fargo & Company upped 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. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Thursday. HSBC lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Wednesday, May 15th. BMO Capital Markets upped their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research note on Monday, May 13th. Finally, Bank of America boosted their price target on shares of American International Group from $82.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, June 11th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.38.

American International Group Price Performance

NYSE AIG opened at $74.24 on Friday. The company has a market cap of $49.27 billion, a PE ratio of 11.08, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. American International Group, Inc. has a 52 week low of $56.55 and a 52 week high of $80.83. 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’s 50-day simple moving average is $76.75 and its two-hundred day simple moving average is $73.26.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period in the prior year, the firm earned $1.63 earnings per share. Research analysts predict that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.16%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, June 14th. American International Group’s dividend payout ratio is presently 23.88%.

American International Group 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.