Ontario Teachers Pension Plan Board Sells 241 Shares of American International Group, Inc. (NYSE:AIG)

Ontario Teachers Pension Plan Board lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 37,732 shares of the insurance provider’s stock after selling 241 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in American International Group were worth $2,556,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in AIG. Invesco Ltd. boosted its stake in American International Group by 3.0% during the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares during the period. FMR LLC raised its holdings in American International Group by 5.0% in the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after acquiring an additional 604,901 shares in the last quarter. Norges Bank acquired a new position in American International Group in the 4th quarter valued at approximately $746,005,000. Northern Trust Corp raised its holdings in American International Group by 1.8% in the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after acquiring an additional 133,828 shares in the last quarter. Finally, LSV Asset Management raised its holdings in American International Group by 5.3% in the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock valued at $392,065,000 after acquiring an additional 290,061 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In other news, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Inglis acquired 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and raised their price target for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Evercore ISI raised their price target on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a report on Friday, May 3rd. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $81.06.

American International Group Stock Performance

American International Group stock traded down $0.83 during midday trading on Thursday, reaching $78.08. 570,632 shares of the company’s stock were exchanged, compared to its average volume of 3,957,786. American International Group, Inc. has a 52 week low of $52.78 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.94 and a beta of 1.02. The stock’s 50-day simple moving average is $76.87 and its 200 day simple moving average is $71.17.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same quarter last year, the company posted $1.63 earnings per share. On average, analysts expect that American International Group, Inc. will post 7.08 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is presently 21.49%.

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.