American International Group, Inc. $AIG Shares Bought by Townsend & Associates Inc

Townsend & Associates Inc raised its position in shares of American International Group, Inc. (NYSE:AIG) by 2.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 439,110 shares of the insurance provider’s stock after purchasing an additional 11,468 shares during the period. American International Group accounts for about 3.1% of Townsend & Associates Inc’s investment portfolio, making the stock its 10th largest position. Townsend & Associates Inc’s holdings in American International Group were worth $35,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Leeward Investments LLC MA raised its position in American International Group by 15.7% during the third quarter. Leeward Investments LLC MA now owns 109,808 shares of the insurance provider’s stock valued at $8,172,000 after acquiring an additional 14,913 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in American International Group by 112.2% in the third quarter. Citizens Financial Group Inc. RI now owns 25,391 shares of the insurance provider’s stock worth $1,890,000 after acquiring an additional 13,423 shares in the last quarter. Simplicity Wealth LLC grew its position in American International Group by 32.6% in the third quarter. Simplicity Wealth LLC now owns 3,855 shares of the insurance provider’s stock worth $287,000 after acquiring an additional 947 shares in the last quarter. Gibbs Wealth Management increased its stake in shares of American International Group by 11.4% during the 3rd quarter. Gibbs Wealth Management now owns 24,643 shares of the insurance provider’s stock worth $1,834,000 after purchasing an additional 2,515 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in shares of American International Group by 3.9% during the 3rd quarter. Wedbush Securities Inc. now owns 4,740 shares of the insurance provider’s stock worth $353,000 after purchasing an additional 176 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of American International Group stock opened at $81.25 on Monday. The firm has a fifty day simple moving average of $76.59 and a 200-day simple moving average of $76.83. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.85 and a beta of 0.52.

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

American International Group Announces Dividend

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

Wall Street Analyst Weigh In

AIG has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Argus reiterated a “buy” rating and issued a $90.00 price objective on shares of American International Group in a report on Wednesday, September 2nd. The Goldman Sachs Group increased their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Cantor Fitzgerald cut their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, UBS Group boosted their price target on American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $87.68.

Insiders Place Their Bets

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

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.