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

CIBC Asset Management Inc reduced its holdings in American International Group, Inc. (NYSE:AIG) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,276 shares of the insurance provider’s stock after selling 8,251 shares during the quarter. CIBC Asset Management Inc’s holdings in American International Group were worth $6,851,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in AIG. Fortitude Family Office LLC increased its stake in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the last quarter. Rise Advisors LLC acquired a new position in American International Group during the first quarter worth approximately $29,000. Valued Wealth Advisors LLC increased its position in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Versant Capital Management Inc raised its stake in American International Group by 326.0% during the second 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 period. Finally, CENTRAL TRUST Co boosted its holdings in shares of American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

AIG stock opened at $76.69 on Thursday. The stock’s 50 day moving average is $75.09 and its two-hundred day moving average is $75.55. American International Group, Inc. has a 52-week low of $57.72 and a 52-week high of $80.83. The company has a market capitalization of $49.38 billion, a PE ratio of 11.45, a P/E/G ratio of 3.84 and a beta of 1.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company earned $1.75 earnings per share. Analysts predict that American International Group, Inc. will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. American International Group’s payout ratio is 23.88%.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the sale, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AIG. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Wednesday, May 15th. TD Cowen cut their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Piper Sandler reduced their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and an average price target of $83.47.

About American International Group

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.