Bank of Montreal Can Sells 607,868 Shares of American International Group, Inc. (NYSE:AIG)

Bank of Montreal Can reduced its stake in shares of American International Group, Inc. (NYSE:AIG) by 46.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 704,873 shares of the insurance provider’s stock after selling 607,868 shares during the quarter. Bank of Montreal Can owned about 0.11% of American International Group worth $51,695,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new stake in shares of American International Group during the 3rd quarter worth approximately $26,000. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter valued at $27,000. Fortitude Family Office LLC lifted its stake in shares of American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 239 shares during the period. Versant Capital Management Inc boosted its position in shares of American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of American International Group during the third quarter worth $46,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays began coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Wells Fargo & Company reduced their price objective on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Bank of America boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.80.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of American International Group stock opened at $77.13 on Thursday. American International Group, Inc. has a twelve month low of $64.54 and a twelve month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a 50-day simple moving average of $75.69 and a two-hundred day simple moving average of $75.51. The stock has a market capitalization of $48.11 billion, a price-to-earnings ratio of -22.75, a price-to-earnings-growth ratio of 7.53 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the previous year, the company earned $1.61 EPS. Analysts forecast that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s payout ratio is presently -47.20%.

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.