American International Group, Inc. (NYSE:AIG) is Townsend & Associates Inc's 7th Largest Position

Townsend & Associates Inc increased its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 465,747 shares of the insurance provider's stock after acquiring an additional 12,075 shares during the quarter. American International Group makes up 3.7% of Townsend & Associates Inc's holdings, making the stock its 7th largest holding. Townsend & Associates Inc owned about 0.07% of American International Group worth $36,063,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AIG. Forum Financial Management LP grew its holdings in American International Group by 1.1% during the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider's stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Quent Capital LLC boosted its stake in American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider's stock valued at $285,000 after purchasing an additional 146 shares during the period. New Republic Capital LLC grew its holdings in American International Group by 5.2% in the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider's stock valued at $257,000 after buying an additional 164 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider's stock worth $477,000 after buying an additional 165 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in shares of American International Group by 4.9% in the first quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider's stock valued at $276,000 after acquiring an additional 165 shares during the period. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Price Performance

Shares of NYSE:AIG traded down $1.01 during trading on Friday, reaching $75.58. 6,826,259 shares of the stock were exchanged, compared to its average volume of 3,588,702. The stock has a fifty day moving average of $75.15 and a two-hundred day moving average of $75.66. American International Group, Inc. has a 1-year low of $62.75 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 8.49% and a negative net margin of 6.19%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 5.11 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio (DPR) is currently -47.20%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Evercore ISI lowered their price target on shares of American International Group from $79.00 to $78.00 and set an "in-line" rating on the stock in a report on Wednesday, October 9th. StockNews.com upgraded American International Group from a "sell" rating to a "hold" rating in a research report on Friday. JPMorgan Chase & Co. raised American International Group from a "neutral" rating to an "overweight" rating and decreased their price target for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. BMO Capital Markets lowered shares of American International Group from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Bank of America lifted their price target on shares of American International Group from $82.00 to $86.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $84.31.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by company insiders.

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.