Supplemental Annuity Collective Trust of NJ Invests $203,000 in American International Group, Inc. (NYSE:AIG)

Supplemental Annuity Collective Trust of NJ purchased a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 3,000 shares of the insurance provider’s stock, valued at approximately $203,000.

Several other hedge funds have also added to or reduced their stakes in AIG. OFI Invest Asset Management purchased a new position in shares of American International Group in the third quarter worth about $26,000. Headlands Technologies LLC bought a new position in American International Group in the 3rd quarter worth about $32,000. CNB Bank purchased a new position in shares of American International Group during the third quarter worth about $42,000. SouthState Corp raised its stake in American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in 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 buying an additional 232 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John C. Inglis bought 659 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG traded down $0.16 during trading hours on Friday, hitting $74.47. The stock had a trading volume of 5,027,158 shares, compared to its average volume of 3,936,687. The stock has a fifty day moving average price of $74.61 and a 200 day moving average price of $68.85. The firm has a market capitalization of $50.71 billion, a PE ratio of 14.92, a PEG ratio of 1.08 and a beta of 1.03. American International Group, Inc. has a 12 month low of $48.95 and a 12 month high of $78.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. During the same period in the prior year, the firm posted $1.36 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. Analysts anticipate that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.93%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio is currently 28.86%.

Analyst Ratings Changes

Several research analysts recently issued reports on AIG shares. BMO Capital Markets cut their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Morgan Stanley raised their price objective on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Royal Bank of Canada upped their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Citigroup lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods increased their target price on shares of American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

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.