Toronto Dominion Bank Reduces Stock Holdings in American International Group, Inc. (NYSE:AIG)

Toronto Dominion Bank lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 49.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 220,959 shares of the insurance provider’s stock after selling 214,775 shares during the period. Toronto Dominion Bank’s holdings in American International Group were worth $16,404,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AIG. TD Asset Management Inc increased its position in American International Group by 8.1% during the fourth quarter. TD Asset Management Inc now owns 407,375 shares of the insurance provider’s stock valued at $27,600,000 after acquiring an additional 30,389 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of American International Group by 14.1% during the 4th quarter. Stifel Financial Corp now owns 607,198 shares of the insurance provider’s stock worth $41,138,000 after purchasing an additional 75,028 shares during the period. TFO Wealth Partners LLC grew its holdings in American International Group by 54,313.6% during the 4th quarter. TFO Wealth Partners LLC now owns 11,971 shares of the insurance provider’s stock valued at $811,000 after purchasing an additional 11,949 shares during the last quarter. Scotia Capital Inc. raised its position in American International Group by 4.0% in the 4th quarter. Scotia Capital Inc. now owns 331,334 shares of the insurance provider’s stock worth $22,448,000 after purchasing an additional 12,801 shares during the period. Finally, Bank of Nova Scotia lifted its stake in American International Group by 571.4% in the fourth quarter. Bank of Nova Scotia now owns 445,408 shares of the insurance provider’s stock worth $30,175,000 after purchasing an additional 379,064 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

Shares of AIG stock opened at $73.12 on Friday. The firm has a market cap of $47.09 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 3.70 and a beta of 1.06. American International Group, Inc. has a 52-week low of $57.72 and a 52-week high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The company’s 50 day moving average is $74.27 and its 200 day moving average is $75.66.

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

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is 23.88%.

Insider Activity

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders have sold 14,964,738 shares of company stock worth $400,732,195. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the topic of several recent analyst reports. Piper Sandler reduced their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company reduced their target price on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Citigroup lowered their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Evercore ISI cut their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Finally, Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.88.

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.