American International Group, Inc. (NYSE:AIG) is Townsend & Associates Inc's 10th Largest Position

Townsend & Associates Inc decreased its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 10.1% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 426,136 shares of the insurance provider's stock after selling 47,721 shares during the period. American International Group makes up about 3.5% of Townsend & Associates Inc's investment portfolio, making the stock its 10th largest position. Townsend & Associates Inc owned 0.07% of American International Group worth $33,827,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC purchased a new stake in shares of American International Group in the fourth quarter worth about $1,091,000. IFP Advisors Inc lifted its position in American International Group by 36.6% during the 4th quarter. IFP Advisors Inc now owns 2,137 shares of the insurance provider's stock worth $156,000 after acquiring an additional 573 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in American International Group in the 4th quarter worth approximately $40,000. SVB Wealth LLC acquired a new stake in American International Group in the fourth quarter valued at approximately $423,000. Finally, Fisher Asset Management LLC grew its position in American International Group by 8.7% in the fourth quarter. Fisher Asset Management LLC now owns 4,321 shares of the insurance provider's stock valued at $315,000 after acquiring an additional 347 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on AIG. Keefe, Bruyette & Woods upped their target price on shares of American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Wells Fargo & Company upped their price objective on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Barclays raised their target price on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. BMO Capital Markets boosted their price target on American International Group from $75.00 to $83.00 and gave the stock a "market perform" rating in a research note on Thursday, March 13th. Finally, Evercore ISI raised their price objective on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $88.12.

American International Group Price Performance

AIG opened at $84.60 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.21. The company's 50-day moving average price is $83.52 and its 200 day moving average price is $79.59. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The firm has a market cap of $48.76 billion, a price-to-earnings ratio of -31.80, a price-to-earnings-growth ratio of 0.92 and a beta of 0.64.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. The business had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same quarter last year, the business posted $1.25 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. American International Group's payout ratio is currently -67.67%.

Insider Transactions at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company's stock.

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.

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