Raymond James Trust N.A. Cuts Stake in American International Group, Inc. (NYSE:AIG)

Raymond James Trust N.A. lessened its position in American International Group, Inc. (NYSE:AIG) by 8.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 38,304 shares of the insurance provider’s stock after selling 3,589 shares during the period. Raymond James Trust N.A.’s holdings in American International Group were worth $2,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the third quarter valued at about $26,000. Fortitude Family Office LLC lifted its holdings in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after buying an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new stake in shares of American International Group in the second quarter valued at approximately $27,000. Versant Capital Management Inc boosted its stake in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in American International Group during the third quarter worth $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AIG has been the topic of several research analyst reports. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. UBS Group boosted their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods dropped their price objective on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Stock Up 0.1 %

AIG opened at $76.06 on Friday. The firm has a market cap of $47.44 billion, a P/E ratio of -22.44, a PEG ratio of 7.52 and a beta of 1.05. The business’s fifty day simple moving average is $75.50 and its 200 day simple moving average is $75.59. American International Group, Inc. has a 52 week low of $64.54 and a 52 week high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the company earned $1.61 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.10%. American International Group’s payout ratio is currently -47.20%.

American International Group 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.