Raymond James Financial Services Advisors Inc. Lowers Stake in American International Group, Inc. (NYSE:AIG)

Raymond James Financial Services Advisors Inc. trimmed its position in American International Group, Inc. (NYSE:AIGGet Rating) by 48.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,672 shares of the insurance provider’s stock after selling 22,856 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in American International Group were worth $1,171,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC raised its holdings in American International Group by 2.4% in the second quarter. FMR LLC now owns 20,562,817 shares of the insurance provider’s stock valued at $1,051,376,000 after buying an additional 473,756 shares during the period. GQG Partners LLC increased its position in shares of American International Group by 14.4% in the second quarter. GQG Partners LLC now owns 9,109,926 shares of the insurance provider’s stock worth $466,068,000 after acquiring an additional 1,146,973 shares in the last quarter. Legal & General Group Plc raised its stake in shares of American International Group by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 5,494,508 shares of the insurance provider’s stock valued at $280,934,000 after acquiring an additional 62,214 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of American International Group by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,005,362 shares of the insurance provider’s stock valued at $314,187,000 after acquiring an additional 63,099 shares in the last quarter. Finally, AQR Capital Management LLC increased its holdings in American International Group by 175.6% in the 2nd quarter. AQR Capital Management LLC now owns 3,371,929 shares of the insurance provider’s stock valued at $167,551,000 after purchasing an additional 2,148,227 shares in the last quarter. 89.01% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Up 1.2 %

Shares of NYSE AIG opened at $62.47 on Friday. The stock’s 50 day moving average price is $62.41 and its two-hundred day moving average price is $56.27. American International Group, Inc. has a 52-week low of $47.05 and a 52-week high of $65.73. The stock has a market capitalization of $46.41 billion, a P/E ratio of 3.72, a PEG ratio of 1.05 and a beta of 1.19. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.75.

American International Group (NYSE:AIGGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The insurance provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. American International Group had a return on equity of 7.33% and a net margin of 23.33%. The firm had revenue of $11.33 billion for the quarter, compared to analysts’ expectations of $11.50 billion. On average, analysts anticipate that American International Group, Inc. will post 4.36 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Wednesday, December 14th. American International Group’s payout ratio is 7.61%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AIG. Morgan Stanley began coverage on American International Group in a research report on Monday, November 7th. They issued an “overweight” rating and a $70.00 target price for the company. Wells Fargo & Company upped their target price on American International Group from $61.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Wednesday. The Goldman Sachs Group began coverage on American International Group in a research report on Monday, October 10th. They issued a “buy” rating and a $83.00 target price for the company. Citigroup began coverage on American International Group in a research report on Wednesday, December 14th. They issued a “buy” rating and a $72.00 target price for the company. Finally, Royal Bank of Canada upped their target price on American International Group from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 14th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $65.08.

American International Group Company Profile

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American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.

Further Reading

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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