Mackenzie Financial Corp Sells 3,498 Shares of American International Group, Inc. (NYSE:AIG)

Mackenzie Financial Corp lessened its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,654 shares of the insurance provider's stock after selling 3,498 shares during the quarter. Mackenzie Financial Corp owned about 0.05% of American International Group worth $22,179,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Capital Research Global Investors increased its holdings in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock worth $2,540,050,000 after buying an additional 482,724 shares in the last quarter. Wellington Management Group LLP grew its position in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock worth $1,951,427,000 after acquiring an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. increased its holdings in American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock worth $1,029,905,000 after purchasing an additional 461,912 shares in the last quarter. Franklin Resources Inc. raised its position in American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock valued at $760,528,000 after purchasing an additional 1,284,354 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of American International Group during the fourth quarter valued at about $718,013,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction on Monday, May 5th. The shares were 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 in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.50% of the stock is currently owned by insiders.

American International Group Stock Up 1.1%

NYSE AIG traded up $0.92 during mid-day trading on Friday, hitting $84.51. The company's stock had a trading volume of 7,700,307 shares, compared to its average volume of 4,431,487. The firm has a market capitalization of $48.71 billion, a price-to-earnings ratio of -40.63, a PEG ratio of 1.01 and a beta of 0.69. The company's 50 day simple moving average is $82.43 and its 200 day simple moving average is $78.14. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07.

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 firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same period last year, the company earned $1.25 earnings per share. Analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. American International Group's dividend payout ratio is -67.67%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AIG shares. Morgan Stanley upped their price objective 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. UBS Group reduced their target price on shares of American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Evercore ISI upped their price target on shares of American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Jefferies Financial Group lifted their price target 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, JPMorgan Chase & Co. restated a "neutral" rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.