Canada Pension Plan Investment Board Has $148.40 Million Stock Position in American International Group, Inc. $AIG

Canada Pension Plan Investment Board reduced its holdings in shares of American International Group, Inc. (NYSE:AIG) by 20.4% in the 2nd quarter, according to the company in its most recent filing 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 quarter. Canada Pension Plan Investment Board’s holdings in American International Group were worth $148,399,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Modus Advisors LLC bought a new position in American International Group in the fourth quarter valued at about $27,000. Navalign LLC bought a new position in shares of American International Group in the fourth quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new position in shares of American International Group in the fourth quarter worth about $29,000. SHP Wealth Management acquired a new stake in shares of American International Group in the 4th quarter valued at approximately $34,000. Finally, Fiduciary Financial Advisors acquired a new stake in shares of American International Group in the 2nd quarter valued at approximately $34,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada raised their target price on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. BMO Capital Markets boosted their target price on shares of American International Group from $83.00 to $89.00 in a research note on Thursday, May 7th. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday, August 11th. Finally, UBS Group increased their price target on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group currently has an average rating of “Hold” and a consensus price target of $88.28.

Insider Buying and Selling at American International Group

In related news, insider Peter Zaffino sold 36,829 shares of the business’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company’s stock, valued at $42,334,144.56. The trade was a 6.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Stock Up 0.9%

Shares of NYSE AIG opened at $77.04 on Thursday. The company has a 50 day simple moving average of $77.82 and a 200 day simple moving average of $77.01. 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, Inc. has a 1 year low of $71.25 and a 1 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.

American International Group (NYSE:AIG) last posted its earnings results on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping 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 business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same period last year, the company earned $1.81 EPS. On average, research analysts forecast that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s payout ratio is 36.56%.

About American International Group

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.