Jones Financial Companies Lllp Decreases Holdings in American International Group, Inc. $AIG

Jones Financial Companies Lllp trimmed its holdings in American International Group, Inc. (NYSE:AIG) by 36.6% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 318,494 shares of the insurance provider’s stock after selling 184,032 shares during the quarter. Jones Financial Companies Lllp’s holdings in American International Group were worth $24,068,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AIG. Geneos Wealth Management Inc. raised its position in American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 129 shares during the period. Westwood Holdings Group Inc. lifted its stake in American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 130 shares during the last quarter. L2 Asset Management LLC boosted its position in American International Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock valued at $227,000 after buying an additional 139 shares during the period. Larson Financial Group LLC boosted its position in American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after buying an additional 140 shares during the period. Finally, GW&K Investment Management LLC grew its stake in shares of American International Group by 8.1% during the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after buying an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 1.6%

NYSE AIG opened at $77.37 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $40.45 billion, a PE ratio of 14.14, a PEG ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The business’s 50-day moving average is $77.74 and its 200 day moving average is $77.01.

American International Group (NYSE:AIG) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the prior year, the company posted $1.81 EPS. Sell-side analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s payout ratio is 36.56%.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent research reports. Piper Sandler boosted their target price on American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. The Goldman Sachs Group lifted their price target on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. UBS Group boosted their price objective on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Morgan Stanley lowered their price objective on American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods increased their price objective on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $88.28.

Insider Activity

In related news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

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.