Mackenzie Financial Corp Has $31.71 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Mackenzie Financial Corp has increased its stake in American International Group, Inc. by 19.7%, acquiring an additional 60,052 shares, bringing its total to 364,706 shares valued at approximately $31.7 million.
• Analysts have shown optimism regarding American International Group, with several brokerages raising their price targets and assigning buy or outperform ratings, reflecting overall confidence in the company.
• American International Group has declared a quarterly dividend of $0.45 per share, increasing from the previous quarterly dividend of $0.40, representing an annualized dividend yield of 2.28%.

Mackenzie Financial Corp lifted its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 19.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 364,706 shares of the insurance provider's stock after acquiring an additional 60,052 shares during the period. Mackenzie Financial Corp owned 0.06% of American International Group worth $31,708,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AIG. Pinnacle Associates Ltd. increased its holdings in American International Group by 1.6% in the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock worth $670,000 after buying an additional 122 shares during the last quarter. Miracle Mile Advisors LLC increased its holdings in American International Group by 1.6% in the first quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after buying an additional 124 shares during the last quarter. Western Pacific Wealth Management LP increased its holdings in American International Group by 2.3% in the first quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock worth $493,000 after buying an additional 125 shares during the last quarter. Montag A & Associates Inc. increased its holdings in American International Group by 0.7% in the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock worth $1,546,000 after buying an additional 130 shares during the last quarter. Finally, Carnegie Investment Counsel increased its holdings in American International Group by 3.1% in the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider's stock worth $375,000 after buying an additional 131 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

Insider Activity

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the transaction, the executive vice president directly owned 21,400 shares of the company's stock, valued at approximately $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on AIG. Keefe, Bruyette & Woods increased their price objective on 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 increased their price target on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 11th. Morgan Stanley increased their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Barclays increased their price target on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Wells Fargo & Company raised 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 note on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.33.

American International Group Stock Performance

AIG stock traded down $0.66 during midday trading on Friday, hitting $76.97. The stock had a trading volume of 4,438,077 shares, compared to its average volume of 4,083,866. The firm has a market capitalization of $44.36 billion, a price-to-earnings ratio of -28.94, a P/E/G ratio of 0.85 and a beta of 0.63. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $88.07. The stock has a 50-day simple moving average of $82.94 and a 200 day simple moving average of $81.09. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. The company had revenue of $6.77 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $1.25 earnings per share. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

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.