Poplar Forest Capital LLC Lowers Stock Holdings in American International Group, Inc. (NYSE:AIG)

Poplar Forest Capital LLC trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 37.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 169,392 shares of the insurance provider’s stock after selling 101,547 shares during the quarter. American International Group accounts for approximately 1.7% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 26th biggest position. Poplar Forest Capital LLC’s holdings in American International Group were worth $11,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in American International Group by 18.7% during the 4th quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock valued at $138,014,000 after acquiring an additional 319,948 shares during the period. American Century Companies Inc. boosted its stake in shares of American International Group by 22.6% in the 3rd quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock valued at $25,625,000 after buying an additional 77,874 shares during the period. Sequoia Financial Advisors LLC boosted its stake in shares of American International Group by 121.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 38,809 shares of the insurance provider’s stock valued at $2,629,000 after buying an additional 21,279 shares during the period. abrdn plc boosted its stake in shares of American International Group by 19.6% in the 4th quarter. abrdn plc now owns 598,143 shares of the insurance provider’s stock valued at $40,524,000 after buying an additional 98,143 shares during the period. Finally, Tritonpoint Wealth LLC purchased a new position in shares of American International Group in the 4th quarter valued at about $1,072,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the company’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 owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired 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 of the company’s stock, valued at $49,682.01. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Peter Zaffino sold 333,000 shares of the company’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 value of $25,264,710.00. Following the sale, 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. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

AIG traded up $0.05 during trading on Wednesday, hitting $74.98. 2,684,606 shares of the stock were exchanged, compared to its average volume of 3,937,835. The firm has a market capitalization of $51.06 billion, a P/E ratio of 15.03, a PEG ratio of 1.08 and a beta of 1.03. American International Group, Inc. has a 1-year low of $48.95 and a 1-year high of $78.95. The stock has a fifty day moving average price of $74.52 and a two-hundred day moving average price of $68.81. 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 released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for 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 firm’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.36 earnings per share. As a group, sell-side analysts predict that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.92%. American International Group’s dividend payout ratio (DPR) is currently 28.86%.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. Morgan Stanley lifted their price objective on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Wells Fargo & Company lifted their price objective on American International Group from $74.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Royal Bank of Canada lifted their price objective on American International Group from $76.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. BMO Capital Markets cut their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

American International Group Company 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.