Calamos Advisors LLC Reduces Stock Position in American International Group, Inc. (NYSE:AIG)

Calamos Advisors LLC decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 741,431 shares of the insurance provider’s stock after selling 4,292 shares during the quarter. Calamos Advisors LLC’s holdings in American International Group were worth $50,232,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in AIG. OFI Invest Asset Management acquired a new stake in shares of American International Group during the 3rd quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new position in shares of American International Group during the 3rd quarter worth approximately $32,000. CNB Bank purchased a new position in shares of American International Group during the 3rd quarter worth approximately $42,000. SouthState Corp increased its stake in shares of American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG traded up $0.41 during trading on Thursday, reaching $72.99. The company had a trading volume of 3,127,482 shares, compared to its average volume of 3,987,710. The firm’s fifty day moving average is $74.01 and its 200 day moving average is $68.30. The firm has a market capitalization of $49.70 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current 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, beating analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities analysts forecast that American International Group, Inc. will post 7.05 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.97%. American International Group’s payout ratio is currently 28.86%.

Insider Activity

In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction 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 in the company, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other American International Group news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at $49,682.01. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Wells Fargo & Company lifted their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. Royal Bank of Canada lifted their target price on shares of American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, BMO Capital Markets cut their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $79.06.

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.