Peapack Gladstone Financial Corp Sells 2,264 Shares of American International Group, Inc. (NYSE:AIG)

Peapack Gladstone Financial Corp lessened its holdings in American International Group, Inc. (NYSE:AIG) by 7.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,902 shares of the insurance provider’s stock after selling 2,264 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in American International Group were worth $2,189,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its stake in American International Group by 32.4% in the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock valued at $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Prana Capital Management LP boosted its holdings in American International Group by 280.5% during the third quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after purchasing an additional 1,391,859 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 5.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock valued at $1,002,163,000 after purchasing an additional 722,237 shares during the period. Bank of Montreal Can raised its holdings in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after buying an additional 597,765 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of American International Group by 24.7% during the 3rd quarter. Barclays PLC now owns 2,748,674 shares of the insurance provider’s stock worth $201,286,000 after buying an additional 544,110 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction 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. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Trading Up 0.6 %

AIG stock opened at $72.87 on Friday. The business has a fifty day moving average of $76.03 and a 200-day moving average of $75.20. The company has a market cap of $45.45 billion, a P/E ratio of -21.50, a PEG ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a twelve month low of $65.69 and a twelve month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the prior year, the company posted $1.61 EPS. As a group, equities research analysts expect that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Wall Street Analyst Weigh In

AIG has been the topic of a number of analyst reports. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group upped their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI cut their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research note on Wednesday, October 9th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

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.