Caisse DE Depot ET Placement DU Quebec Sells 119,100 Shares of American International Group, Inc. (NYSE:AIG)

Caisse DE Depot ET Placement DU Quebec trimmed its position in American International Group, Inc. (NYSE:AIG) by 65.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,877 shares of the insurance provider’s stock after selling 119,100 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in American International Group were worth $4,678,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in AIG. Auxier Asset Management raised its position in shares of American International Group by 2.9% during the third quarter. Auxier Asset Management now owns 109,206 shares of the insurance provider’s stock worth $7,997,000 after purchasing an additional 3,032 shares during the period. Captrust Financial Advisors raised its holdings in American International Group by 5.8% during the third quarter. Captrust Financial Advisors now owns 44,908 shares of the insurance provider’s stock worth $3,289,000 after buying an additional 2,469 shares during the last quarter. Centric Wealth Management raised its holdings in American International Group by 2.4% during the third quarter. Centric Wealth Management now owns 33,692 shares of the insurance provider’s stock worth $2,595,000 after buying an additional 790 shares during the last quarter. Vinva Investment Management Ltd lifted its stake in shares of 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 buying an additional 3,424 shares in the last quarter. Finally, FORA Capital LLC acquired a new position in shares of American International Group during the third quarter valued at about $501,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on AIG shares. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. UBS Group upped their price target on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Finally, Barclays began coverage on shares of American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price for the company. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

American International Group Stock Performance

NYSE:AIG opened at $75.99 on Tuesday. American International Group, Inc. has a 1 year low of $64.81 and a 1 year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. The business has a fifty day simple moving average of $75.82 and a two-hundred day simple moving average of $75.46. The company has a market capitalization of $47.40 billion, a P/E ratio of -22.42, a P/E/G ratio of 7.62 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) 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 analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the previous year, the business posted $1.61 EPS. On average, analysts expect 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 disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is owned by company insiders.

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.