9,089 Shares in American International Group, Inc. $AIG Bought by TOWER TRUST & INVESTMENT Co

TOWER TRUST & INVESTMENT Co bought a new stake in shares of American International Group, Inc. (NYSE:AIG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,089 shares of the insurance provider’s stock, valued at approximately $676,000.

Several other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp bought a new position in shares of American International Group in the second quarter worth $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new stake in shares of American International Group during the 2nd quarter valued at $464,539,000. Wellington Management Group LLP raised its stake in shares of American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider’s stock valued at $2,260,622,000 after purchasing an additional 1,961,270 shares during the period. Man Group plc raised its stake in shares of American International Group by 104.6% during the 2nd quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock valued at $269,230,000 after purchasing an additional 1,847,194 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in American International Group by 131.5% during the 2nd quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock worth $87,607,000 after purchasing an additional 667,791 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on AIG. Wells Fargo & Company cut their target price on American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Morgan Stanley decreased their price target on American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 6th. Mizuho lowered their price target on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. JPMorgan Chase & Co. increased their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Barclays raised their price objective on shares of American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research report on Friday, August 7th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $87.68.

American International Group Price Performance

AIG opened at $81.48 on Friday. The stock has a market capitalization of $42.61 billion, a P/E ratio of 14.90, a PEG ratio of 0.84 and a beta of 0.52. The stock has a 50-day moving average price of $76.94 and a 200-day moving average price of $76.71. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the firm posted $1.81 earnings per share. Equities analysts predict that American International Group, Inc. will post 8.07 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 36.56%.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.