TD Asset Management Inc Sells 7,707 Shares of American International Group, Inc. (NYSE:AIG)

Key Points

• TD Asset Management Inc has reduced its stake in American International Group, Inc. by 2.5%, now holding 296,000 shares valued at approximately $25.73 million.
• American International Group recently announced a quarterly dividend increase from $0.40 to $0.45, resulting in an annualized yield of 2.28%.
• Research firms have generally upgraded AIG's stock ratings, with target prices reaching as high as $95.00, indicating a consensus rating of "Moderate Buy."

TD Asset Management Inc trimmed its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 296,000 shares of the insurance provider's stock after selling 7,707 shares during the period. TD Asset Management Inc's holdings in American International Group were worth $25,734,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. HB Wealth Management LLC raised its stake in shares of American International Group by 55.5% during the first quarter. HB Wealth Management LLC now owns 26,021 shares of the insurance provider's stock valued at $2,262,000 after acquiring an additional 9,291 shares during the last quarter. Assetmark Inc. raised its stake in shares of American International Group by 2.5% during the first quarter. Assetmark Inc. now owns 44,958 shares of the insurance provider's stock valued at $3,909,000 after acquiring an additional 1,082 shares during the last quarter. Cetera Investment Advisers raised its stake in American International Group by 29.5% in the first quarter. Cetera Investment Advisers now owns 68,893 shares of the insurance provider's stock worth $5,990,000 after buying an additional 15,684 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in American International Group by 14.6% in the first quarter. Avantax Advisory Services Inc. now owns 17,341 shares of the insurance provider's stock worth $1,508,000 after buying an additional 2,205 shares in the last quarter. Finally, Brookwood Investment Group LLC bought a new position in American International Group in the first quarter worth about $344,000. 90.60% of the stock is owned by institutional investors.

American International Group Stock Down 0.9%

Shares of NYSE:AIG traded down $0.66 during trading on Friday, reaching $76.97. 4,438,077 shares of the stock traded hands, compared to its average volume of 4,083,866. The stock has a 50-day moving average of $83.03 and a two-hundred day moving average of $81.01. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The stock has a market cap of $44.36 billion, a P/E ratio of -28.94, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The firm had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. As a group, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president owned 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AIG. Barclays increased their price target on shares of American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley increased their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Wells Fargo & Company increased their price target 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. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Nine investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.19.

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.