Bank of Montreal Can Purchases 597,765 Shares of American International Group, Inc. (NYSE:AIG)

Bank of Montreal Can lifted its stake in American International Group, Inc. (NYSE:AIG) by 83.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312,741 shares of the insurance provider’s stock after acquiring an additional 597,765 shares during the period. Bank of Montreal Can owned approximately 0.20% of American International Group worth $97,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AIG. Fortitude Family Office LLC boosted its position in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after buying an additional 239 shares during the period. Y.D. More Investments Ltd purchased a new stake in American International Group in the second quarter worth $27,000. Rise Advisors LLC bought a new position in shares of American International Group in the 1st quarter worth about $29,000. Valued Wealth Advisors LLC increased its position in American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $73.42 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $48.73 billion, a price-to-earnings ratio of 10.96, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The firm has a 50-day moving average of $74.38 and a two-hundred day moving average of $75.68. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the company earned $1.75 EPS. On average, research analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio is currently 23.88%.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of recent analyst reports. Bank of America boosted their target price on American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays started coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target on the stock. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Morgan Stanley cut their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Evercore ISI dropped their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $83.88.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now directly owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold 14,964,738 shares of company stock worth $400,732,195 over the last three months. 0.61% of the stock is owned by corporate insiders.

American International Group 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.