AGF Management Ltd. Lowers Stock Position in American International Group, Inc. (NYSE:AIG)

AGF Management Ltd. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 24.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,734 shares of the insurance provider’s stock after selling 7,093 shares during the period. AGF Management Ltd.’s holdings in American International Group were worth $1,614,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in AIG. Capital Research Global Investors boosted its position in American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock worth $2,829,930,000 after purchasing an additional 176,286 shares during the period. Norges Bank purchased a new stake in American International Group during the 4th quarter worth $746,005,000. Putnam Investments LLC boosted its position in American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after purchasing an additional 300,712 shares during the period. Clearbridge Investments LLC boosted its position in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after purchasing an additional 31,340 shares during the period. Finally, Third Point LLC boosted its position in American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after purchasing an additional 500,000 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 sale, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

American International Group Stock Performance

Shares of American International Group stock opened at $73.11 on Friday. The firm has a market cap of $48.52 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06. The firm’s 50-day simple moving average is $74.81 and its 200-day simple moving average is $75.67. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. 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 released its quarterly earnings data 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). The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS. Equities analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.19%. American International Group’s dividend payout ratio (DPR) is 23.88%.

Analysts Set New Price Targets

A number of analysts recently weighed in on AIG shares. JPMorgan Chase & Co. upped their price target on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Evercore ISI cut their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Citigroup cut their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company cut their price objective on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus target price of $83.88.

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.