Bokf Na Sells 295 Shares of American International Group, Inc. (NYSE:AIG)

Bokf Na trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,232 shares of the insurance provider’s stock after selling 295 shares during the period. Bokf Na’s holdings in American International Group were worth $639,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AIG. Lazard Asset Management LLC lifted its stake in shares of American International Group by 61.6% in the first quarter. Lazard Asset Management LLC now owns 276,002 shares of the insurance provider’s stock valued at $21,574,000 after buying an additional 105,218 shares during the period. LRI Investments LLC bought a new stake in shares of American International Group in the first quarter valued at about $112,000. Senator Investment Group LP lifted its stake in shares of American International Group by 41.0% in the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock valued at $118,620,000 after buying an additional 441,048 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after buying an additional 941,607 shares during the period. Finally, Westwood Holdings Group Inc. increased its holdings in shares of American International Group by 1.1% during the first quarter. Westwood Holdings Group Inc. now owns 1,391,048 shares of the insurance provider’s stock worth $108,738,000 after buying an additional 15,428 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on AIG shares. BMO Capital Markets raised 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. Wells Fargo & Company raised their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Thursday, June 27th. Finally, Piper Sandler raised their price objective on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $82.50.

American International Group Stock Performance

NYSE:AIG traded up $0.47 during mid-day trading on Monday, hitting $77.71. The stock had a trading volume of 551,168 shares, compared to its average volume of 4,131,426. American International Group, Inc. has a twelve month low of $57.02 and a twelve month high of $80.83. The stock has a market cap of $51.57 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.55 and a beta of 1.08. The company’s 50 day simple moving average is $76.11 and its 200 day simple moving average is $74.51. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same period last year, the business posted $1.63 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.40 dividend. This is a boost from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s dividend payout ratio is currently 23.88%.

American International Group declared that its Board of Directors has approved a share repurchase program on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire 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 shares are undervalued.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.61% of the company’s stock.

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.