Investment Management Corp of Ontario Sells 4,100 Shares of American International Group, Inc. (NYSE:AIG)

Investment Management Corp of Ontario cut its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,950 shares of the insurance provider's stock after selling 4,100 shares during the quarter. Investment Management Corp of Ontario's holdings in American International Group were worth $1,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock worth $2,540,050,000 after buying an additional 482,724 shares in the last quarter. Wellington Management Group LLP raised its position in shares of American International Group by 7.2% during the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock worth $1,951,427,000 after purchasing an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. lifted its holdings 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 purchasing an additional 461,912 shares during the last quarter. Franklin Resources Inc. boosted its position 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 valued at $760,528,000 after purchasing an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new position in American International Group in the 4th quarter worth about $718,013,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.50% of the company's stock.

American International Group Stock Up 1.3%

NYSE AIG traded up $1.11 during trading on Friday, hitting $84.34. 2,570,144 shares of the company traded hands, compared to its average volume of 4,450,435. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The business has a fifty day simple moving average of $82.42 and a 200 day simple moving average of $77.67. The company has a market capitalization of $48.60 billion, a P/E ratio of -40.55, a PEG ratio of 1.01 and a beta of 0.69. 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 earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $6.89 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be paid a $0.45 dividend. The ex-dividend date is Friday, June 13th. This is a positive change from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. American International Group's dividend payout ratio (DPR) is presently -67.67%.

Wall Street Analyst Weigh In

Several research analysts have commented on AIG shares. Jefferies Financial Group raised their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company boosted their target price on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 target price (up previously from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research report on Tuesday, April 1st. Finally, HSBC upgraded American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, American International Group has a consensus rating of "Moderate Buy" and a consensus price target of $87.88.

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.