Procyon Advisors LLC Purchases 2,306 Shares of American International Group, Inc. (NYSE:AIG)

Procyon Advisors LLC grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 15.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 17,576 shares of the insurance provider’s stock after buying an additional 2,306 shares during the period. Procyon Advisors LLC’s holdings in American International Group were worth $1,191,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Meeder Advisory Services Inc. grew its position in American International Group by 1.3% in the 3rd quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after acquiring an additional 162 shares during the last quarter. Avantax Advisory Services Inc. grew its position in shares of American International Group by 3.6% during the 3rd quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock worth $292,000 after buying an additional 167 shares in the last quarter. Steph & Co. grew its position in shares of American International Group by 3.3% during the 3rd quarter. Steph & Co. now owns 5,448 shares of the insurance provider’s stock worth $330,000 after buying an additional 176 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of American International Group by 0.7% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 27,251 shares of the insurance provider’s stock worth $1,294,000 after buying an additional 186 shares in the last quarter. Finally, Graypoint LLC grew its position in shares of American International Group by 2.5% during the 3rd quarter. Graypoint LLC now owns 7,760 shares of the insurance provider’s stock worth $470,000 after buying an additional 191 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AIG shares. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. HSBC began coverage on American International Group in a report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective on the stock. UBS Group raised their target price on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. BMO Capital Markets dropped their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, Royal Bank of Canada raised their price objective on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.06.

American International Group Stock Performance

Shares of NYSE:AIG traded up $0.19 during trading on Thursday, hitting $78.53. 342,407 shares of the company traded hands, compared to its average volume of 3,957,608. The stock has a market capitalization of $53.48 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.09 and a beta of 1.02. The business’s fifty day moving average is $71.72 and its 200-day moving average is $66.67. American International Group, Inc. has a one year low of $47.99 and a one year high of $78.70. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 7.1 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.83%. The ex-dividend date is Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is currently 28.86%.

Insider Buying and Selling at American International Group

In other news, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now directly owns 659 shares in the company, valued at $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, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John C. Inglis bought 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Company insiders own 0.49% 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.