Canada Pension Plan Investment Board Sells 98,721 Shares of American International Group, Inc. $AIG

Key Points

• The Canada Pension Plan Investment Board reduced its stake in American International Group, Inc. by 14.0%, now holding 608,940 shares valued at approximately $52.9 million.
• American International Group reported an earnings per share of $1.81 for the last quarter, exceeding analyst expectations of $1.60.
• AIG has announced a quarterly dividend of $0.45, with an annualized yield of 2.2%, set to be paid on September 30th.

Canada Pension Plan Investment Board reduced its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 14.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 608,940 shares of the insurance provider's stock after selling 98,721 shares during the period. Canada Pension Plan Investment Board owned about 0.11% of American International Group worth $52,941,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of AIG. WPG Advisers LLC bought a new position in shares of American International Group in the first quarter worth about $47,000. Trexquant Investment LP acquired a new position in shares of American International Group during the 1st quarter worth about $17,330,000. OMERS ADMINISTRATION Corp grew its stake in American International Group by 5.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 48,787 shares of the insurance provider's stock valued at $4,242,000 after buying an additional 2,657 shares during the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in American International Group by 0.6% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 23,089 shares of the insurance provider's stock worth $2,007,000 after purchasing an additional 132 shares during the period. Finally, CreativeOne Wealth LLC grew its holdings in shares of American International Group by 33.4% during the first quarter. CreativeOne Wealth LLC now owns 5,550 shares of the insurance provider's stock worth $482,000 after purchasing an additional 1,390 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of American International Group stock traded up $0.47 during trading hours on Thursday, hitting $81.81. 1,719,596 shares of the company were exchanged, compared to its average volume of 4,485,564. The stock has a market capitalization of $45.32 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.87 and a beta of 0.70. The business has a 50-day moving average of $81.03 and a 200-day moving average of $81.96. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07.

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

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's dividend payout ratio (DPR) is 34.09%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Morgan Stanley upped their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Cfra Research upgraded American International Group to a "moderate buy" rating in a research report on Monday, August 11th. William Blair raised shares of American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods lowered their target price on American International Group from $97.00 to $91.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald upgraded shares of American International Group to a "hold" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.27.

American International Group 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.