American International Group, Inc. (NYSE:AIG) Holdings Decreased by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its holdings in American International Group, Inc. (NYSE:AIG) by 1.7% in the 2nd quarter, Holdings Channel reports. The fund owned 314,318 shares of the insurance provider’s stock after selling 5,417 shares during the period. Mackenzie Financial Corp’s holdings in American International Group were worth $23,335,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. MBB Public Markets I LLC purchased a new stake in shares of American International Group in the second quarter worth approximately $3,500,000. Dark Forest Capital Management LP acquired a new position in American International Group in the 2nd quarter valued at approximately $644,000. Deerfield Management Company L.P. Series C purchased a new stake in American International Group in the 2nd quarter worth approximately $413,000. APG Asset Management N.V. boosted its stake in shares of American International Group by 13.3% during the 2nd quarter. APG Asset Management N.V. now owns 2,200,252 shares of the insurance provider’s stock valued at $152,411,000 after buying an additional 258,700 shares during the period. Finally, Caxton Associates LP purchased a new position in shares of American International Group during the 2nd quarter valued at $2,225,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Up 0.3 %

American International Group stock opened at $73.34 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The firm has a fifty day moving average price of $74.15 and a two-hundred day moving average price of $75.63. The firm has a market cap of $48.67 billion, a price-to-earnings ratio of 10.95, a P/E/G ratio of 3.70 and a beta of 1.06.

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

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. 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 stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares of the company’s stock, valued at approximately $7,077,548,560.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have sold 14,964,738 shares of company stock valued at $400,732,195. 0.61% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Morgan Stanley reduced their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Citigroup lowered their price target on 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. JPMorgan Chase & Co. raised their price objective on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Finally, TD Cowen decreased their target price 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.88.

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.