CIBC Asset Management Inc cut its stake in American International Group Inc (NYSE:AIG) by 1.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,348 shares of the insurance provider’s stock after selling 1,942 shares during the quarter. CIBC Asset Management Inc’s holdings in American International Group were worth $6,932,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of AIG. Connable Office Inc. acquired a new stake in American International Group in the 3rd quarter valued at approximately $1,563,000. Synovus Financial Corp boosted its position in American International Group by 1.9% in the 3rd quarter. Synovus Financial Corp now owns 93,385 shares of the insurance provider’s stock valued at $5,715,000 after buying an additional 1,727 shares during the period. State of Alaska Department of Revenue boosted its position in American International Group by 334.7% in the 4th quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock valued at $5,834,000 after buying an additional 75,415 shares during the period. Patriot Wealth Management Inc. boosted its position in American International Group by 1.4% in the 4th quarter. Patriot Wealth Management Inc. now owns 142,495 shares of the insurance provider’s stock valued at $8,490,000 after buying an additional 1,989 shares during the period. Finally, Torray LLC boosted its position in American International Group by 26.0% in the 3rd quarter. Torray LLC now owns 190,836 shares of the insurance provider’s stock valued at $11,715,000 after buying an additional 39,368 shares during the period. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
American International Group Inc (NYSE AIG) traded down $0.41 during midday trading on Tuesday, reaching $59.20. 1,156,780 shares of the company’s stock were exchanged, compared to its average volume of 6,420,357. American International Group Inc has a 12-month low of $57.85 and a 12-month high of $67.30. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43. The company has a market cap of $53,250.00, a P/E ratio of -23.79, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.18). American International Group had a positive return on equity of 3.02% and a negative net margin of 5.07%. During the same quarter in the prior year, the company earned ($2.96) earnings per share. research analysts predict that American International Group Inc will post 5.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a $0.32 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.16%. American International Group’s payout ratio is currently -51.41%.
Several research firms have recently issued reports on AIG. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price objective for the company. in a research report on Friday, November 3rd. Zacks Investment Research cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Wells Fargo & Co set a $75.00 price target on shares of American International Group and gave the company a “buy” rating in a research report on Tuesday, October 17th. Barclays dropped their price objective on shares of American International Group from $74.00 to $71.00 and set an “overweight” rating on the stock in a research note on Monday, October 16th. Finally, B. Riley reiterated a “neutral” rating on shares of American International Group in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $66.87.
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American International Group Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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