Chevy Chase Trust Holdings LLC Decreases Holdings in American International Group, Inc. $AIG

Chevy Chase Trust Holdings LLC cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 304,538 shares of the insurance provider’s stock after selling 6,763 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in American International Group were worth $26,065,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GQG Partners LLC increased its stake in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after buying an additional 18,852,949 shares during the period. Bank of New York Mellon Corp increased its stake in shares of American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider’s stock worth $974,840,000 after buying an additional 1,901,998 shares during the period. Hotchkis & Wiley Capital Management LLC increased its stake in shares of American International Group by 22.8% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock worth $792,340,000 after buying an additional 1,694,290 shares during the period. Nuveen LLC purchased a new position in shares of American International Group in the first quarter worth $440,273,000. Finally, AQR Capital Management LLC increased its stake in shares of American International Group by 184.4% in the first quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after buying an additional 2,162,545 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AIG shares. The Goldman Sachs Group lifted their target price on shares of American International Group from $85.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 6th. Cfra Research raised shares of American International Group to a “moderate buy” rating in a research note on Monday, August 11th. William Blair raised shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on shares of American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a research note on Thursday, October 9th. Finally, Wall Street Zen upgraded shares of American International Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.81.

American International Group Stock Performance

NYSE:AIG opened at $77.30 on Friday. The stock has a market cap of $42.82 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. The firm’s fifty day simple moving average is $80.00 and its 200 day simple moving average is $81.46. American International Group, Inc. has a twelve month low of $69.24 and a twelve month high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released 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 business had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the business posted $1.16 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date was Tuesday, September 16th. American International Group’s payout ratio is 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.