Hartford Funds Management Co LLC Acquires 3,401 Shares of American International Group, Inc. (NYSE:AIG)

Hartford Funds Management Co LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 41.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,515 shares of the insurance provider’s stock after purchasing an additional 3,401 shares during the quarter. Hartford Funds Management Co LLC’s holdings in American International Group were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in AIG. LSV Asset Management boosted its position in shares of American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after buying an additional 639,079 shares during the last quarter. FMR LLC boosted its holdings in American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after acquiring an additional 604,901 shares during the last quarter. Invesco Ltd. grew its stake in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after acquiring an additional 503,547 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of American International Group by 55.3% in the third quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock valued at $80,983,000 after purchasing an additional 476,104 shares during the last quarter. Finally, Adams Diversified Equity Fund Inc. purchased a new stake in shares of American International Group in the third quarter valued at about $25,549,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets reduced their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Piper Sandler lifted their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. TD Cowen started coverage on American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price objective for the company. Finally, Wells Fargo & Company lifted their target price on 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. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average price target of $80.38.

American International Group Stock Performance

Shares of AIG stock traded down $0.43 during trading on Tuesday, reaching $75.31. 3,313,165 shares of the company’s stock traded hands, compared to its average volume of 3,931,962. American International Group, Inc. has a 1 year low of $48.95 and a 1 year high of $78.95. The company has a market capitalization of $51.28 billion, a P/E ratio of 15.09, a PEG ratio of 1.07 and a beta of 1.03. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average is $74.96 and its 200 day moving average is $69.25.

American International Group (NYSE:AIG) last released its quarterly earnings data 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 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 for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 EPS. Equities research analysts expect that American International Group, Inc. will post 6.95 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.91%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Buying and Selling

In related news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. 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 value of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John C. Inglis bought 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost 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 $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by insiders.

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.