TD Asset Management Inc Sells 12,312 Shares of American International Group, Inc. $AIG

Key Points

• TD Asset Management Inc has reduced its stake in American International Group, Inc. by 4.2%, selling 12,312 shares, bringing its total holdings to 283,688 shares valued at approximately $24.3 million.
• Several large investors increased their stakes in AIG, with notable changes including AIA Group Ltd raising its position by 169.6% and Wealth Enhancement Advisory Services LLC increasing by 175.0% in the latest quarter.
• AIG recently reported a quarterly EPS of $1.81, exceeding analysts' expectations, and declared a dividend of $0.45, reflecting a 2.3% yield.

TD Asset Management Inc lessened its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 4.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 283,688 shares of the insurance provider's stock after selling 12,312 shares during the period. TD Asset Management Inc's holdings in American International Group were worth $24,281,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Patton Fund Management Inc. purchased a new stake in shares of American International Group during the second quarter valued at $232,000. AIA Group Ltd raised its position in shares of American International Group by 169.6% in the 1st quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock worth $901,000 after acquiring an additional 6,523 shares in the last quarter. Townsquare Capital LLC raised its holdings in American International Group by 5.4% in the first quarter. Townsquare Capital LLC now owns 115,129 shares of the insurance provider's stock worth $10,009,000 after purchasing an additional 5,899 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in American International Group by 175.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock valued at $15,807,000 after acquiring an additional 115,706 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in American International Group by 2.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Price Performance

Shares of AIG opened at $77.30 on Friday. The stock has a market cap of $42.82 billion, a PE ratio of 14.64, a P/E/G ratio of 0.76 and a beta of 0.68. 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, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The firm has a 50-day simple moving average of $80.00 and a two-hundred day simple moving average of $81.50.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results 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 company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. As a group, analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group's dividend payout ratio (DPR) is currently 34.09%.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIG. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Wolfe Research started coverage on shares of American International Group in a research note on Tuesday, September 16th. They set a "peer perform" rating on the stock. Morgan Stanley reduced their price target on American International Group from $85.00 to $84.00 and set an "equal weight" rating for the company in a report on Tuesday, October 7th. UBS Group increased their price objective on shares of American International Group from $90.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. increased their price objective on American International Group from $95.00 to $97.00 and gave the company a "neutral" rating in a research note on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $89.81.

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.

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