Canada Pension Plan Investment Board Sells 509,402 Shares of American International Group, Inc. $AIG

Canada Pension Plan Investment Board cut its holdings in American International Group, Inc. (NYSE:AIG) by 20.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,991,127 shares of the insurance provider’s stock after selling 509,402 shares during the period. Canada Pension Plan Investment Board owned about 0.38% of American International Group worth $148,399,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of American International Group during the fourth quarter worth approximately $636,782,000. Danske Bank A S increased its stake in shares of American International Group by 7.7% during the fourth quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock worth $30,111,000 after purchasing an additional 25,200 shares during the period. Lee Danner & Bass Inc. increased its stake in shares of American International Group by 194.2% during the first quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 22,300 shares during the period. Swiss National Bank lifted its holdings in American International Group by 4.3% during the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock worth $119,163,000 after purchasing an additional 65,400 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in American International Group during the 4th quarter worth approximately $12,732,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $77.04 on Thursday. The stock’s fifty day moving average price is $77.82 and its two-hundred day moving average price is $77.01. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The firm has a market cap of $40.28 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53.

American International Group (NYSE:AIG) last released its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period in the prior year, the company posted $1.81 EPS. As a group, research analysts expect that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

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 paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio is presently 36.56%.

Insider Buying and Selling

In other news, insider Peter Zaffino sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. The trade was a 25.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AIG has been the topic of a number of research reports. The Goldman Sachs Group upped their price objective on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald dropped their target price on American International Group from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Mizuho raised their price target on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Finally, 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 note on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $88.28.

American International Group 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.