American International Group, Inc. (NYSE:AIG) Holdings Reduced by Bank of Nova Scotia

Key Points

• The Bank of Nova Scotia has reduced its stake in American International Group, Inc. (AIG) by 43.1%, selling 141,037 shares and holding a total of 186,015 shares valued at approximately $16.17 million.
• A number of institutional investors, including the Bank of New York Mellon Corp and Caisse DE Depot ET Placement DU Quebec, have significantly increased their stakes in AIG, reflecting a growing interest among institutional investors in the company.
• Analysts have set new price targets for AIG, with a consensus target price of $88.33 and a current consensus rating of "Moderate Buy," indicating positive sentiment towards the stock's future performance.

Bank of Nova Scotia reduced its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 43.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,015 shares of the insurance provider's stock after selling 141,037 shares during the period. Bank of Nova Scotia's holdings in American International Group were worth $16,172,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in American International Group by 175.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after acquiring an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of American International Group by 2.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock valued at $1,445,000 after buying an additional 355 shares during the period. IFP Advisors Inc grew its stake in shares of American International Group by 34.9% during the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after buying an additional 745 shares during the period. GAMMA Investing LLC grew its stake in shares of American International Group by 18.6% during the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock valued at $1,146,000 after buying an additional 2,069 shares during the period. Finally, Brighton Jones LLC purchased a new stake in shares of American International Group during the 4th quarter valued at $1,091,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG traded up $0.63 during trading on Wednesday, reaching $79.07. 4,235,061 shares of the company's stock traded hands, compared to its average volume of 4,256,040. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The company has a 50 day moving average of $82.78 and a 200-day moving average of $81.14. The stock has a market capitalization of $45.57 billion, a P/E ratio of -29.73, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.15. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. During the same quarter in the prior year, the firm posted $1.16 earnings per share. On average, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group's dividend payout ratio is presently -67.67%.

Wall Street Analysts Forecast Growth

AIG has been the topic of several recent research reports. JPMorgan Chase & Co. restated a "neutral" rating and set a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Barclays lifted their target price on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group boosted their price objective on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, Morgan Stanley boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

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.