TD Waterhouse Canada Inc. Purchases 21,281 Shares of American International Group, Inc. $AIG

Key Points

• TD Waterhouse Canada increased its AIG position by 27% in the second quarter, adding 21,281 shares to own 100,050 shares valued at approximately $7.7 million. Institutional investors collectively hold 90.6% of AIG’s stock.
• AIG reported quarterly EPS of $2.00, exceeding analysts’ $1.92 estimate, although revenue of $7.08 billion fell short of expectations. The company declared a quarterly dividend of $0.50, representing a 2.6% annualized yield.
• AIG shares recently traded near $76, while analysts maintained an overall “Hold” rating with an average price target of $88.37; CEO Peter Zaffino also sold 200,000 shares under a pre-arranged Rule 10b5-1 plan.

TD Waterhouse Canada Inc. raised its position in American International Group, Inc. (NYSE:AIG - Free Report) by 27.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,050 shares of the insurance provider's stock after purchasing an additional 21,281 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in American International Group were worth $7,671,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Modus Advisors LLC bought a new stake in American International Group during the 4th quarter valued at $27,000. Navalign LLC bought a new stake in shares of American International Group in the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group in the fourth quarter worth about $29,000. First Bancorp Inc ME purchased a new stake in American International Group in the second quarter worth about $30,000. Finally, SHP Wealth Management bought a new position in American International Group during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

American International Group Trading Down 0.9%

American International Group stock opened at $76.18 on Friday. The firm has a market cap of $39.83 billion, a PE ratio of 13.93, a P/E/G ratio of 0.85 and a beta of 0.50. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock's 50 day simple moving average is $77.96 and its two-hundred day simple moving average is $76.99. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the firm earned $1.81 EPS. Analysts anticipate that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. American International Group's payout ratio is presently 36.56%.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the sale, the insider directly owned 592,833 shares of the company's stock, valued at $45,333,939.51. This represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company's stock.

Analyst Ratings Changes

AIG has been the topic of a number of recent research reports. HSBC dropped their price objective on American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research report on Monday, July 6th. Mizuho increased their price target on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Cantor Fitzgerald lowered their price target on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. Piper Sandler lifted their price objective on shares of American International Group from $80.00 to $84.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. Finally, Argus reiterated a "buy" rating and set a $90.00 price objective on shares of American International Group in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $88.37.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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