BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Stake in American International Group, Inc. (NYSE:AIG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its stake in American International Group, Inc. (NYSE:AIG) by 14.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 110,745 shares of the insurance provider’s stock after selling 18,356 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in American International Group were worth $8,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIG. Edgestream Partners L.P. purchased a new position in American International Group in the third quarter valued at $295,000. Auxier Asset Management increased its stake in shares of American International Group by 2.9% in the 3rd quarter. Auxier Asset Management now owns 109,206 shares of the insurance provider’s stock valued at $7,997,000 after purchasing an additional 3,032 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of American International Group by 5.8% in the 3rd quarter. Captrust Financial Advisors now owns 44,908 shares of the insurance provider’s stock valued at $3,289,000 after purchasing an additional 2,469 shares in the last quarter. Centric Wealth Management raised its holdings in American International Group by 2.4% in the 3rd quarter. Centric Wealth Management now owns 33,692 shares of the insurance provider’s stock worth $2,595,000 after purchasing an additional 790 shares during the period. Finally, Vinva Investment Management Ltd grew its holdings in American International Group by 12.5% in the third quarter. Vinva Investment Management Ltd now owns 30,763 shares of the insurance provider’s stock valued at $2,256,000 after purchasing an additional 3,424 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $76.88 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market cap of $47.96 billion, a P/E ratio of -22.68, a PEG ratio of 7.62 and a beta of 1.05. The company has a 50-day moving average price of $75.82 and a 200 day moving average price of $75.46. American International Group, Inc. has a 12-month low of $64.81 and a 12-month high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Sell-side analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price for the company. TD Cowen reduced their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. Finally, Evercore ISI decreased their price target on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.80.

About American International Group

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.