Caisse de depot et placement du Quebec Decreases Stock Position in American International Group, Inc. $AIG

Caisse de depot et placement du Quebec decreased its position in American International Group, Inc. (NYSE:AIG) by 24.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,135,326 shares of the insurance provider’s stock after selling 673,553 shares during the quarter. Caisse de depot et placement du Quebec’s holdings in American International Group were worth $159,146,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of American International Group in the fourth quarter valued at $636,782,000. Bank of New York Mellon Corp purchased a new stake in American International Group during the 2nd quarter worth $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in American International Group in the 2nd quarter worth $464,539,000. Price T Rowe Associates Inc. MD lifted its holdings in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after buying an additional 4,661,246 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock valued at $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE AIG opened at $77.04 on Thursday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $40.28 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The business has a 50 day simple moving average of $77.82 and a 200-day simple moving average of $77.01.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.08. The business had revenue of $7.08 billion for the quarter, compared to analyst estimates 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 period in the prior year, the company posted $1.81 EPS. As a group, equities research analysts expect that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given 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 is Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of American International Group stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. The trade was a 25.23% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AIG shares. Weiss Ratings upgraded American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Piper Sandler boosted their price target on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Barclays increased their price target on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. HSBC lowered their price objective on American International Group from $94.00 to $88.00 and set a “buy” rating for the company in a research note on Monday, July 6th. Finally, UBS Group upped their target price on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Hold” and a consensus price target of $88.28.

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.