Morton Community Bank Lowers Position in American International Group, Inc. (NYSE:AIG)

Key Points

• Morton Community Bank has reduced its holdings in American International Group, Inc. (AIG) by 38.3%, now owning 6,975 shares valued at approximately $606,000.
• AIG has announced a quarterly dividend of $0.45 per share, set to be paid on September 30th, which represents an annualized yield of 2.4%.
• The stock currently has a consensus rating of "Moderate Buy" with an average target price of $88.33, as several analysts have issued upgraded price targets.

Morton Community Bank lessened its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 38.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,975 shares of the insurance provider's stock after selling 4,330 shares during the period. Morton Community Bank's holdings in American International Group were worth $606,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sachetta LLC grew its stake in shares of American International Group by 194.5% in the 1st quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after buying an additional 249 shares during the period. Ameriflex Group Inc. purchased a new stake in shares of American International Group in the 4th quarter valued at approximately $29,000. Hemington Wealth Management grew its stake in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after buying an additional 142 shares during the period. NBC Securities Inc. purchased a new stake in shares of American International Group in the 1st quarter valued at approximately $47,000. Finally, Colonial Trust Co SC grew its stake in shares of American International Group by 150.2% in the 4th quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider's stock valued at $54,000 after buying an additional 443 shares during the period. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Up 2.0%

Shares of American International Group stock traded up $1.52 during trading on Friday, hitting $78.12. 4,170,729 shares of the stock were exchanged, compared to its average volume of 4,459,343. The stock has a market cap of $45.02 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The firm's 50-day moving average price is $82.43 and its 200 day moving average price is $81.20. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping 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 7.81%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the business earned $1.16 EPS. As a group, analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date is Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 34.09%.

Wall Street Analyst Weigh In

AIG has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target 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. Barclays increased their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. William Blair raised shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Wells Fargo & Company increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of American International Group from a "hold" rating to a "buy" rating in a research report on Saturday. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.33.

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.