Intact Investment Management Inc. Sells 7,600 Shares of American International Group, Inc. (NYSE:AIG)

Intact Investment Management Inc. lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 50.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,400 shares of the insurance provider's stock after selling 7,600 shares during the quarter. Intact Investment Management Inc.'s holdings in American International Group were worth $643,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AIG. Duncker Streett & Co. Inc. bought a new stake in American International Group during the 4th quarter worth about $25,000. Ameriflex Group Inc. bought a new stake in shares of American International Group during the fourth quarter valued at approximately $29,000. BankPlus Trust Department acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $36,000. Whipplewood Advisors LLC bought a new position in American International Group in the 4th quarter worth approximately $40,000. Finally, NBC Securities Inc. acquired a new position in American International Group during the 1st quarter worth $47,000. Institutional investors own 90.60% of the company's stock.

American International Group Price Performance

NYSE AIG traded down $0.33 on Tuesday, hitting $85.49. The stock had a trading volume of 3,150,375 shares, compared to its average volume of 4,384,927. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a market capitalization of $49.27 billion, a price-to-earnings ratio of -32.14, a price-to-earnings-growth ratio of 0.93 and a beta of 0.64. The firm has a 50-day moving average of $83.24 and a 200-day moving average of $79.27.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a $0.45 dividend. This is a boost from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, June 13th. American International Group's dividend payout ratio is presently -67.67%.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. Morgan Stanley boosted their target price on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. The Goldman Sachs Group lifted their price target on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company increased their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $88.12.

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.