American International Group, Inc. (NYSE:AIG) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 51.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 912,423 shares of the insurance provider’s stock after selling 981,567 shares during the period. Canada Pension Plan Investment Board owned 0.14% of American International Group worth $67,738,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Fortitude Family Office LLC raised its holdings in shares of 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 acquiring an additional 239 shares during the last quarter. Y.D. More Investments Ltd acquired a new position in American International Group in the 2nd quarter valued at $27,000. Rise Advisors LLC purchased a new position in American International Group in the 1st quarter valued at $29,000. Valued Wealth Advisors LLC grew its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $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 second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after buying an additional 339 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the business’s 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 sale, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 14,964,738 shares of company stock worth $400,732,195 in the last three months. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on AIG shares. Citigroup lowered their price target on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Morgan Stanley reduced their price objective 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. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reduced their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $83.88.

American International Group Price Performance

Shares of AIG opened at $73.76 on Friday. The firm has a 50-day simple moving average of $74.55 and a two-hundred day simple moving average of $75.68. The stock has a market cap of $48.95 billion, a PE ratio of 11.01, a P/E/G ratio of 3.60 and a beta of 1.06. American International Group, Inc. has a 1-year low of $57.72 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) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. During the same quarter last year, the business posted $1.75 EPS. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts forecast that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.17%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is 23.88%.

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.