Raymond James Trust N.A. Decreases Stake in American International Group, Inc. (NYSE:AIG)

Raymond James Trust N.A. decreased its holdings in American International Group, Inc. (NYSE:AIG) by 8.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 38,304 shares of the insurance provider’s stock after selling 3,589 shares during the quarter. Raymond James Trust N.A.’s holdings in American International Group were worth $2,805,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Cetera Investment Advisers boosted its position in shares of American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. OFI Invest Asset Management boosted its holdings in American International Group by 2,208.3% in the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares during the period. DekaBank Deutsche Girozentrale grew its position in American International Group by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after acquiring an additional 10,581 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of American International Group during the third quarter valued at approximately $494,000. Finally, Victory Capital Management Inc. lifted its position in shares of American International Group by 6.1% during the second quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after purchasing an additional 54,419 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Trading Up 0.1 %

NYSE AIG opened at $76.06 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a one year low of $64.54 and a one year high of $80.83. The company has a 50-day simple moving average of $75.50 and a 200-day simple moving average of $75.59. The firm has a market capitalization of $47.44 billion, a PE ratio of -22.44, a price-to-earnings-growth ratio of 7.52 and a beta of 1.05.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the prior year, the company earned $1.61 earnings per share. On average, equities analysts forecast that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AIG shares. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Piper Sandler lowered their target price 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 boosted their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lowered their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Finally, UBS Group upped their target price on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, American International Group has an average rating of “Moderate Buy” and an average target price of $84.80.

Insider Buying and Selling 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 dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company insiders.

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.