Janney Montgomery Scott LLC Cuts Stock Position in American International Group, Inc. $AIG

Key Points

• Janney Montgomery Scott LLC decreased its stake in American International Group, Inc. by 22.2% during the second quarter, now holding 77,431 shares valued at approximately $6.63 million.
• Several institutional investors, including Moss Adams Wealth Advisors LLC and GC Wealth Management RIA LLC, have acquired new positions in AIG during the same period.
• AIG's stock has a consensus rating of Moderate Buy with two analysts issuing a Strong Buy rating, and the average target price is set at $88.31.

Janney Montgomery Scott LLC lessened its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 22.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 77,431 shares of the insurance provider's stock after selling 22,122 shares during the period. Janney Montgomery Scott LLC's holdings in American International Group were worth $6,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Moss Adams Wealth Advisors LLC bought a new position in shares of American International Group during the 2nd quarter valued at about $205,000. GC Wealth Management RIA LLC bought a new position in shares of American International Group during the 2nd quarter valued at about $443,000. Tritonpoint Wealth LLC boosted its holdings in shares of American International Group by 1.6% during the 2nd quarter. Tritonpoint Wealth LLC now owns 10,702 shares of the insurance provider's stock valued at $916,000 after purchasing an additional 165 shares during the last quarter. Uncommon Cents Investing LLC bought a new position in shares of American International Group during the 2nd quarter valued at about $243,000. Finally, Signaturefd LLC boosted its holdings in shares of American International Group by 7.0% during the 2nd quarter. Signaturefd LLC now owns 7,485 shares of the insurance provider's stock valued at $641,000 after purchasing an additional 488 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of several research reports. Wolfe Research initiated coverage on shares of American International Group in a report on Tuesday, September 16th. They set a "peer perform" rating for the company. Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a report on Friday. William Blair raised shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Evercore ISI increased their price target on shares of American International Group from $89.00 to $90.00 and gave the company an "in-line" rating in a report on Wednesday, October 1st. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of American International Group in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.31.

American International Group Stock Performance

American International Group stock opened at $81.05 on Monday. The company has a 50 day moving average price of $79.30 and a 200-day moving average price of $81.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a market capitalization of $44.90 billion, a PE ratio of 15.35, a P/E/G ratio of 0.87 and a beta of 0.68.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the previous year, the firm posted $1.16 earnings per share. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group's payout ratio is currently 34.09%.

American International Group Company 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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