Chevy Chase Trust Holdings LLC Sells 6,763 Shares of American International Group, Inc. $AIG

Chevy Chase Trust Holdings LLC lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 304,538 shares of the insurance provider’s stock after selling 6,763 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.05% of American International Group worth $26,065,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AIG. Brighton Jones LLC bought a new position in American International Group during the fourth quarter worth about $1,091,000. GAMMA Investing LLC boosted its position in American International Group by 18.6% during the first quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider’s stock worth $1,146,000 after purchasing an additional 2,069 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in American International Group by 175.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider’s stock worth $15,807,000 after purchasing an additional 115,706 shares during the period. Avior Wealth Management LLC boosted its position in American International Group by 100.7% during the first quarter. Avior Wealth Management LLC now owns 4,116 shares of the insurance provider’s stock worth $358,000 after purchasing an additional 2,065 shares during the period. Finally, Segment Wealth Management LLC bought a new position in shares of American International Group in the first quarter valued at approximately $206,000. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AIG shares. Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Citigroup started coverage on shares of American International Group in a research report on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Jefferies Financial Group raised their price objective on shares of American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of American International Group in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

American International Group Trading Up 0.4%

Shares of AIG opened at $77.30 on Friday. The firm’s 50 day simple moving average is $80.00 and its 200 day simple moving average is $81.46. The company has a market capitalization of $42.82 billion, a P/E ratio of 14.64, a P/E/G ratio of 0.76 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the firm posted $1.16 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is 34.09%.

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.