The Manufacturers Life Insurance Company Cuts Holdings in American International Group, Inc. $AIG

The Manufacturers Life Insurance Company lowered its stake in American International Group, Inc. (NYSE:AIG) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 469,051 shares of the insurance provider’s stock after selling 48,163 shares during the period. The Manufacturers Life Insurance Company’s holdings in American International Group were worth $34,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Norges Bank acquired a new stake in American International Group in the fourth quarter valued at $636,782,000. Danske Bank A S boosted its position in shares of American International Group by 7.7% during the 4th quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock worth $30,111,000 after acquiring an additional 25,200 shares in the last quarter. Lee Danner & Bass Inc. boosted its position in shares of American International Group by 194.2% during the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after acquiring an additional 22,300 shares in the last quarter. Swiss National Bank increased its holdings in shares of American International Group by 4.3% in the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider’s stock valued at $119,163,000 after acquiring an additional 65,400 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of American International Group in the 4th quarter valued at about $12,732,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Up 0.9%

NYSE:AIG opened at $77.04 on Thursday. The company has a market capitalization of $40.28 billion, a PE ratio of 14.08, a P/E/G ratio of 0.70 and a beta of 0.53. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The stock’s 50 day moving average price is $77.82 and its 200 day moving average price is $77.01. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter in the previous year, the business earned $1.81 earnings per share. On average, research analysts anticipate that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s payout ratio is presently 36.56%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AIG. Mizuho boosted their target price on American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. HSBC dropped their price target on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a research note on Monday, July 6th. Wells Fargo & Company cut their price objective on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Morgan Stanley lowered their target price on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and an average price target of $88.28.

Insider Buying and Selling

In related news, insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider owned 556,004 shares in the company, valued at $42,334,144.56. This represents a 6.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.