Northwest & Ethical Investments L.P. Cuts Position in American International Group, Inc. (NYSE:AIG)

Northwest & Ethical Investments L.P. trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 17.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,954 shares of the insurance provider’s stock after selling 4,821 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in American International Group were worth $1,681,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of AIG. B. Riley Wealth Advisors Inc. raised its stake in shares of American International Group by 14.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after purchasing an additional 1,675 shares during the period. Atria Investments Inc raised its position in American International Group by 4.1% in the first quarter. Atria Investments Inc now owns 45,731 shares of the insurance provider’s stock worth $3,574,000 after acquiring an additional 1,788 shares during the period. Cetera Investment Advisers boosted its stake in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after acquiring an additional 44,797 shares during the last quarter. Cetera Advisors LLC grew its position in shares of American International Group by 80.9% during the 1st quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock valued at $721,000 after acquiring an additional 4,124 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in shares of American International Group by 8.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after acquiring an additional 10,581 shares during the period. 90.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BMO Capital Markets downgraded American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Wednesday, November 6th. TD Cowen dropped their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, Bank of America lifted their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE:AIG opened at $76.88 on Friday. The stock has a market cap of $47.96 billion, a P/E ratio of -22.68, a PEG ratio of 7.65 and a beta of 1.05. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $75.82 and its two-hundred day moving average price is $75.51. American International Group, Inc. has a twelve month low of $64.81 and a twelve month high of $80.83.

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

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is currently -47.20%.

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.