Raymond James Financial Inc. Increases Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• Raymond James Financial Inc. increased its holdings in American International Group, Inc. (AIG) by 151.6%, acquiring an additional 1,980,001 shares during the 1st quarter, bringing their total ownership to approximately 3.29 million shares valued at $285.68 million.
• AIG's latest earnings report showed an EPS of $1.81, surpassing analysts' estimates of $1.60, although revenue fell slightly short of expectations at $6.77 billion.
• The company recently announced a quarterly dividend of $0.45 per share, with an annualized dividend yield of 2.2%, reflecting a payout ratio of 34.09%.

Raymond James Financial Inc. lifted its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 151.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,285,963 shares of the insurance provider's stock after buying an additional 1,980,001 shares during the quarter. Raymond James Financial Inc. owned about 0.57% of American International Group worth $285,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cresset Asset Management LLC boosted its stake in American International Group by 1.9% during the first quarter. Cresset Asset Management LLC now owns 119,528 shares of the insurance provider's stock worth $10,392,000 after acquiring an additional 2,190 shares in the last quarter. Twin Focus Capital Partners LLC bought a new stake in American International Group during the first quarter worth about $209,000. Thompson Davis & CO. Inc. bought a new stake in American International Group during the first quarter worth about $275,000. American Century Companies Inc. boosted its stake in American International Group by 15.2% during the first quarter. American Century Companies Inc. now owns 859,682 shares of the insurance provider's stock worth $74,741,000 after acquiring an additional 113,171 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in American International Group by 3.5% during the first quarter. Brandywine Global Investment Management LLC now owns 289,348 shares of the insurance provider's stock worth $25,156,000 after acquiring an additional 9,905 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Down 0.2%

Shares of AIG stock opened at $80.11 on Friday. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The stock has a market cap of $44.38 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.86 and a beta of 0.63. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $81.80 and a two-hundred day simple moving average of $81.36.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The business had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the prior year, the company earned $1.16 earnings per share. On average, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's dividend payout ratio is 34.09%.

Analysts Set New Price Targets

Several research firms recently commented on AIG. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Cantor Fitzgerald raised shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Barclays boosted 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 note on Friday, May 2nd. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Finally, Citigroup initiated coverage on shares of American International Group in a research note on Wednesday. They issued a "neutral" rating and a $85.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.27.

About American International Group

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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