Royal Bank of Canada Has $183.39 Million Stock Position in American International Group, Inc. (NYSE:AIG)

Royal Bank of Canada grew its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 9.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,519,123 shares of the insurance provider's stock after acquiring an additional 212,616 shares during the quarter. Royal Bank of Canada owned 0.40% of American International Group worth $183,392,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock valued at $2,540,050,000 after buying an additional 482,724 shares during the period. Wellington Management Group LLP raised its holdings in shares of American International Group by 7.2% in 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. boosted its position in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock valued at $1,029,905,000 after buying an additional 461,912 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of American International Group by 14.0% in the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after acquiring an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American International Group during the 4th quarter worth approximately $718,013,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Stock Down 1.7%

NYSE:AIG traded down $1.43 during midday trading on Wednesday, hitting $82.65. 2,644,073 shares of the company were exchanged, compared to its average volume of 4,416,596. The company has a market capitalization of $47.63 billion, a PE ratio of -39.74, a price-to-earnings-growth ratio of 1.01 and a beta of 0.69. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a fifty day simple moving average of $82.60 and a 200 day simple moving average of $77.85. 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 (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a $0.45 dividend. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Friday, June 13th. American International Group's dividend payout ratio is currently -67.67%.

Insiders Place Their Bets

In related news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction dated Monday, May 5th. The stock was 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 directly owns 21,400 shares of the company's stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AIG has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on American International Group to $91.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Jefferies Financial Group boosted their target price on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Finally, Evercore ISI lifted their price objective on American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Nine equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.12.

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.