BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 4,017 Shares of American International Group, Inc. $AIG

Key Points

• British Columbia Investment Management Corp reduced its stake in American International Group (AIG) by 3.3%, now holding 119,292 shares valued at approximately $10.37 million.
• AIG has announced a quarterly dividend of $0.45 per share, with an annualized basis representing a yield of 2.2% scheduled for payment on September 30th.
• In recent earnings, AIG reported $1.81 EPS, exceeding analyst estimates, and is projected to post 6.24 EPS for the current year.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 119,292 shares of the insurance provider's stock after selling 4,017 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in American International Group were worth $10,371,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GQG Partners LLC lifted its position in shares of American International Group by 33,315.0% in the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the period. Nuveen LLC bought a new position in American International Group in the first quarter worth approximately $440,273,000. Raymond James Financial Inc. lifted its holdings in American International Group by 151.6% during the first quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider's stock worth $285,682,000 after buying an additional 1,980,001 shares during the period. Bank of New York Mellon Corp boosted its position in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after acquiring an additional 1,901,998 shares in the last quarter. Finally, Balyasny Asset Management L.P. bought a new stake in American International Group during the 4th quarter valued at $135,325,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Stock Up 0.9%

AIG stock opened at $83.3360 on Monday. The stock has a market capitalization of $46.17 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $81.52 and a 200 day moving average of $81.70.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.21. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter last year, the business posted $1.16 EPS. Sell-side analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's payout ratio is 34.09%.

Analysts Set New Price Targets

AIG has been the subject of several recent research reports. Cantor Fitzgerald raised American International Group to a "hold" rating in a research report on Tuesday, August 12th. Citigroup initiated coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a research note on Friday. Finally, William Blair raised shares of American International Group to a "strong-buy" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, American International Group has an average rating of "Moderate Buy" and an average target price of $88.27.

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.

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