Bank of Nova Scotia reduced its holdings in American International Group, Inc. (NYSE:AIG) by 6.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 199,015 shares of the insurance provider’s stock after selling 14,532 shares during the quarter. Bank of Nova Scotia’s holdings in American International Group were worth $12,443,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northern Capital Management LLC increased its holdings in American International Group by 4.0% in the second quarter. Northern Capital Management LLC now owns 46,115 shares of the insurance provider’s stock worth $2,883,000 after purchasing an additional 1,760 shares in the last quarter. Girard Partners LTD. bought a new stake in shares of American International Group during the second quarter valued at approximately $215,000. Oppenheimer & Co. Inc. increased its holdings in shares of American International Group by 9.8% during the second quarter. Oppenheimer & Co. Inc. now owns 88,877 shares of the insurance provider’s stock valued at $5,557,000 after acquiring an additional 7,963 shares in the last quarter. AXA increased its holdings in shares of American International Group by 113.5% during the second quarter. AXA now owns 411,178 shares of the insurance provider’s stock valued at $25,707,000 after acquiring an additional 218,583 shares in the last quarter. Finally, Allen Investment Management LLC increased its holdings in shares of American International Group by 126.4% during the second quarter. Allen Investment Management LLC now owns 42,000 shares of the insurance provider’s stock valued at $2,626,000 after acquiring an additional 23,445 shares in the last quarter. Institutional investors and hedge funds own 83.98% of the company’s stock.

AIG has been the subject of several recent research reports. BidaskClub downgraded American International Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Bank of America Corporation cut their price objective on American International Group from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday. Morgan Stanley reissued a “buy” rating on shares of American International Group in a research report on Tuesday. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price objective on shares of American International Group in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. American International Group currently has a consensus rating of “Hold” and a consensus price target of $68.35.

Shares of American International Group, Inc. (AIG) traded up 0.30% during trading on Friday, reaching $62.74. The company’s stock had a trading volume of 505,146 shares. The company has a 50 day moving average of $60.72 and a 200 day moving average of $62.21. The company’s market cap is $56.68 billion. American International Group, Inc. has a 12-month low of $57.35 and a 12-month high of $67.47.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period last year, the firm earned $0.98 earnings per share. On average, analysts anticipate that American International Group, Inc. will post $3.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.05%. American International Group’s dividend payout ratio is presently -711.07%.

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American International Group Profile

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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