Chevy Chase Trust Holdings LLC Decreases Stake in American International Group, Inc. $AIG

Chevy Chase Trust Holdings LLC cut its position in shares of American International Group, Inc. (NYSE:AIG) by 7.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 282,805 shares of the insurance provider’s stock after selling 21,733 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of American International Group worth $22,212,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Westfuller Advisors LLC purchased a new stake in shares of American International Group during the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp boosted its position in shares of American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares during the last quarter. Eastern Bank grew its holdings in shares of American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after purchasing an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in American International Group in the second quarter worth $32,000. Finally, Motco increased its position in American International Group by 950.0% in the third quarter. Motco now owns 420 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AIG. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $96.00 to $97.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Piper Sandler reduced their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Cantor Fitzgerald upped their target price on shares of American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. Royal Bank Of Canada began coverage on American International Group in a research report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price target for the company. Finally, TD Cowen boosted their price objective on American International Group from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus target price of $88.17.

American International Group Trading Down 0.2%

AIG stock opened at $76.56 on Tuesday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $88.07. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 0.59 and a beta of 0.58. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The firm’s fifty day simple moving average is $76.55 and its two-hundred day simple moving average is $78.68.

American International Group (NYSE:AIG) last released its earnings results on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The firm had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the business earned $1.30 EPS. As a group, analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $1.80 annualized dividend and a yield of 2.4%. American International Group’s dividend payout ratio (DPR) is presently 33.21%.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.