Janney Montgomery Scott LLC Sells 10,809 Shares of American International Group, Inc. $AIG

Janney Montgomery Scott LLC lowered its position in American International Group, Inc. (NYSE:AIG) by 16.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,194 shares of the insurance provider’s stock after selling 10,809 shares during the quarter. Janney Montgomery Scott LLC’s holdings in American International Group were worth $4,153,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Capital Research Global Investors boosted its stake in American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock valued at $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Wellington Management Group LLP lifted its holdings in shares of American International Group by 7.9% during the 3rd quarter. Wellington Management Group LLP now owns 26,046,055 shares of the insurance provider’s stock worth $2,045,657,000 after acquiring an additional 1,899,203 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares in the last quarter. Franklin Resources Inc. increased its stake in American International Group by 36.9% in the fourth quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in American International Group by 22.0% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Down 0.1%

Shares of NYSE:AIG opened at $79.33 on Monday. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The company has a market capitalization of $42.06 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The company has a fifty day moving average of $75.69 and a 200-day moving average of $77.13.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the company posted $1.17 EPS. On average, equities analysts predict that American International Group, Inc. will post 7.98 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. American International Group’s dividend payout ratio (DPR) is presently 35.27%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AIG shares. Bank of America reduced their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. BMO Capital Markets upped their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Cantor Fitzgerald upped their price objective on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley decreased their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company lowered their target price on American International Group from $86.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus price target of $87.94.

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.