Janney Montgomery Scott LLC Has $1.96 Million Stake in American International Group Inc (AIG)
Janney Montgomery Scott LLC decreased its holdings in shares of American International Group Inc (NYSE:AIG) by 23.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,756 shares of the insurance provider’s stock after selling 11,048 shares during the quarter. Janney Montgomery Scott LLC’s holdings in American International Group were worth $1,957,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. ARGA Investment Management LP lifted its holdings in American International Group by 13.9% during the third quarter. ARGA Investment Management LP now owns 93,099 shares of the insurance provider’s stock worth $4,957,000 after buying an additional 11,350 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in American International Group by 16.4% during the second quarter. Oppenheimer & Co. Inc. now owns 57,732 shares of the insurance provider’s stock worth $3,060,000 after buying an additional 8,141 shares during the period. Canton Hathaway LLC purchased a new stake in American International Group during the third quarter worth $163,000. OLD National Bancorp IN lifted its holdings in American International Group by 92.7% during the second quarter. OLD National Bancorp IN now owns 17,912 shares of the insurance provider’s stock worth $950,000 after buying an additional 8,617 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in American International Group by 6.6% during the third quarter. Nisa Investment Advisors LLC now owns 310,343 shares of the insurance provider’s stock worth $16,524,000 after buying an additional 19,100 shares during the period. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AIG opened at $43.06 on Wednesday. American International Group Inc has a 12 month low of $39.29 and a 12 month high of $65.05. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.58. The firm has a market cap of $38.31 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 1.48 and a beta of 1.46.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Wednesday, December 12th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Tuesday, December 11th. American International Group’s payout ratio is 53.33%.
Several analysts have recently commented on AIG shares. Deutsche Bank upgraded American International Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Wells Fargo & Co reiterated a “buy” rating and set a $62.00 price objective on shares of American International Group in a report on Monday, October 29th. Morgan Stanley decreased their price objective on American International Group from $65.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, November 6th. Argus decreased their price objective on American International Group from $58.00 to $50.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. American International Group has a consensus rating of “Buy” and an average target price of $60.02.
American International Group Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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