American International Group, Inc. (NYSE:AIG) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 5.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,455 shares of the insurance provider’s stock after buying an additional 5,179 shares during the period. CIBC Asset Management Inc’s holdings in American International Group were worth $7,137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in American International Group in the 3rd quarter valued at $26,000. Y.D. More Investments Ltd acquired a new stake in American International Group in the 2nd quarter valued at $27,000. Fortitude Family Office LLC increased its holdings in 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 in the last quarter. Versant Capital Management Inc increased its holdings in American International Group by 326.0% in the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 339 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in American International Group in the 3rd quarter valued at $46,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’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 sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AIG. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Bank of America increased their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. TD Cowen decreased their price objective on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Finally, UBS Group upped their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus price target of $84.13.

American International Group Stock Performance

Shares of AIG stock opened at $75.77 on Monday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a one year low of $63.57 and a one year high of $80.83. The company’s 50-day simple moving average is $75.20 and its 200-day simple moving average is $75.69. The stock has a market capitalization of $47.26 billion, a price-to-earnings ratio of -22.35, a PEG ratio of 7.50 and a beta of 1.05.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter last year, the company posted $1.61 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 5.13 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. American International Group’s dividend payout ratio is currently -47.20%.

American International Group 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.