American International Group, Inc. $AIG Stock: Townsend & Associates Inc Grows Holdings

Townsend & Associates Inc boosted its holdings in American International Group, Inc. (NYSE:AIG) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 439,110 shares of the insurance provider’s stock after acquiring an additional 11,468 shares during the quarter. American International Group comprises about 3.1% of Townsend & Associates Inc’s investment portfolio, making the stock its 10th biggest holding. Townsend & Associates Inc owned 0.08% of American International Group worth $35,454,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of American International Group by 6.9% in the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock worth $2,260,622,000 after purchasing an additional 1,961,270 shares during the last quarter. State Street Corp raised its holdings in shares of American International Group by 0.8% in the 2nd quarter. State Street Corp now owns 25,115,416 shares of the insurance provider’s stock worth $1,871,852,000 after purchasing an additional 196,969 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in American International Group by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock valued at $619,862,000 after purchasing an additional 474,035 shares during the last quarter. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in American International Group during the second quarter valued at approximately $464,539,000. Finally, Dimensional Fund Advisors LP boosted its holdings in American International Group by 5.2% during the first quarter. Dimensional Fund Advisors LP now owns 6,142,278 shares of the insurance provider’s stock worth $462,147,000 after buying an additional 303,201 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock opened at $81.25 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The business has a fifty day simple moving average of $76.59 and a 200-day simple moving average of $76.83. The stock has a market cap of $42.49 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.85 and a beta of 0.52.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same period in the prior year, the firm earned $1.81 earnings per share. On average, sell-side analysts anticipate that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is currently 36.56%.

Insiders Place Their Bets

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AIG. Cantor Fitzgerald decreased their price target on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Mizuho cut their price objective on American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Wells Fargo & Company decreased their target price on American International Group from $85.00 to $83.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Finally, Argus reaffirmed a “buy” rating and set a $90.00 target price on shares of American International Group in a research report on Wednesday, September 2nd. Eight analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $87.68.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.