Royal Bank of Canada Has $182.56 Million Stock Position in American International Group, Inc. $AIG

Key Points

• Royal Bank of Canada reduced its stake in American International Group, Inc. by 16.6% during the 1st quarter, now holding a position valued at $182.56 million.
• GQG Partners LLC significantly increased its stake by 33,315%, owning nearly 18.91 million shares worth approximately $1.64 billion.
• American International Group's recent earnings showed an EPS of $1.81, surpassing estimates, while the company also announced a quarterly dividend of $0.45 per share.

Royal Bank of Canada lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 16.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,099,854 shares of the insurance provider's stock after selling 419,269 shares during the period. Royal Bank of Canada owned about 0.36% of American International Group worth $182,561,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $29,000. Sachetta LLC increased its stake in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after purchasing an additional 249 shares during the period. Hemington Wealth Management increased its stake in shares of American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 142 shares during the period. NBC Securities Inc. acquired a new stake in shares of American International Group in the first quarter valued at approximately $47,000. Finally, WPG Advisers LLC acquired a new stake in shares of American International Group in the first quarter valued at approximately $47,000. Institutional investors own 90.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AIG shares. Wall Street Zen lowered shares of American International Group from a "buy" rating to a "hold" rating in a research note on Sunday. Cfra Research upgraded shares of American International Group to a "moderate buy" rating in a research note on Monday, August 11th. Citigroup assumed coverage on shares of American International Group in a report on Wednesday, August 13th. They issued a "neutral" rating and a $85.00 price objective for the company. Keefe, Bruyette & Woods decreased their price objective on shares of 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, William Blair upgraded shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.27.

American International Group Stock Down 3.1%

AIG traded down $2.56 on Friday, reaching $79.17. 4,665,642 shares of the company traded hands, compared to its average volume of 3,569,039. The stock's 50 day moving average price is $80.86 and its 200-day moving average price is $82.12. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a market cap of $43.86 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.84 and a beta of 0.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio 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 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.21. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period in the previous year, the firm posted $1.16 earnings per share. On average, sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.45 dividend. 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 2.3%. American International Group's dividend payout ratio (DPR) is currently 34.09%.

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.