Townsend & Associates Inc Decreases Stock Holdings in American International Group, Inc. $AIG

Townsend & Associates Inc trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 10.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 381,494 shares of the insurance provider’s stock after selling 44,642 shares during the period. American International Group comprises 3.0% of Townsend & Associates Inc’s portfolio, making the stock its 13th largest position. Townsend & Associates Inc’s holdings in American International Group were worth $30,558,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Pinnacle Associates Ltd. raised its position in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock valued at $670,000 after purchasing an additional 122 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after buying an additional 126 shares during the period. Monument Capital Management raised its holdings in shares of American International Group by 3.5% during the second quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after acquiring an additional 129 shares in the last quarter. Montag A & Associates Inc. raised its holdings in shares of American International Group by 0.7% during the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock valued at $1,546,000 after acquiring an additional 130 shares in the last quarter. Finally, Carnegie Investment Counsel lifted its stake in American International Group by 3.1% in the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider’s stock worth $375,000 after acquiring an additional 131 shares during the period. 90.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on AIG. UBS Group upped their price objective on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. The Goldman Sachs Group increased their price target on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Keefe, Bruyette & Woods cut their price objective on American International Group from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Piper Sandler reduced their target price on American International Group from $96.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, October 2nd. Finally, JPMorgan Chase & Co. raised their target price on American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.81.

American International Group Price Performance

Shares of NYSE AIG opened at $77.30 on Monday. The company has a 50 day simple moving average of $80.00 and a two-hundred day simple moving average of $81.43. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a market capitalization of $42.82 billion, a price-to-earnings 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 quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the firm posted $1.16 EPS. Analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. The ex-dividend date 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 presently 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.