Raymond James & Associates Trims Stake in American International Group, Inc. (NYSE:AIG)

Raymond James & Associates lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,210,689 shares of the insurance provider’s stock after selling 27,157 shares during the quarter. Raymond James & Associates owned approximately 0.18% of American International Group worth $88,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Forum Financial Management LP grew its position in shares of American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of American International Group by 5.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 136 shares during the last quarter. Quent Capital LLC boosted its position in American International Group by 4.0% in the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the period. New Republic Capital LLC raised its position in American International Group by 5.2% during the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 164 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on AIG. Piper Sandler decreased their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group lifted their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen decreased their price target on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Barclays assumed coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.38.

American International Group Trading Down 0.8 %

Shares of AIG opened at $78.55 on Monday. The stock’s fifty day simple moving average is $74.43 and its 200 day simple moving average is $75.48. The firm has a market capitalization of $52.13 billion, a P/E ratio of 11.72, a price-to-earnings-growth ratio of 3.88 and a beta of 1.06. American International Group, Inc. has a twelve month low of $58.69 and a twelve month high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS. On average, equities research analysts forecast that American International Group, Inc. will post 5.09 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Monday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 23.88%.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

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.