TD Asset Management Inc Lowers Holdings in American International Group, Inc. (NYSE:AIG)

TD Asset Management Inc decreased its holdings in American International Group, Inc. (NYSE:AIG) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 296,000 shares of the insurance provider’s stock after selling 7,707 shares during the quarter. TD Asset Management Inc’s holdings in American International Group were worth $25,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. grew its holdings in shares of American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock worth $670,000 after purchasing an additional 122 shares during the period. Miracle Mile Advisors LLC grew its holdings in shares of American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider’s stock worth $704,000 after purchasing an additional 124 shares during the period. Western Pacific Wealth Management LP grew its holdings in shares of American International Group by 2.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after purchasing an additional 125 shares during the period. Montag A & Associates Inc. grew its holdings in shares of American International Group by 0.7% during the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock worth $1,546,000 after purchasing an additional 130 shares during the period. Finally, Carnegie Investment Counsel grew its holdings in shares of American International Group by 3.1% during the 1st quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider’s stock worth $375,000 after purchasing an additional 131 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insider Transactions at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the firm’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president directly owned 21,400 shares in the company, valued at $1,781,764. This trade represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Wells Fargo & Company boosted their target price on American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $91.00 price target (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday, April 1st. Morgan Stanley upped their price target on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Finally, Evercore ISI upped their price target on American International Group from $81.00 to $89.00 and gave the stock an “in-line” rating in a report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.19.

American International Group Trading Down 0.4%

NYSE AIG opened at $78.92 on Wednesday. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64. The company has a market capitalization of $45.49 billion, a price-to-earnings ratio of -29.67, a price-to-earnings-growth ratio of 0.87 and a beta of 0.63. The company’s fifty day moving average price is $83.22 and its two-hundred day moving average price is $80.99.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 7.05% and a positive return on equity of 7.13%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the prior year, the firm posted $1.25 EPS. As a group, research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 13th. This is a boost from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 2.28%. American International Group’s dividend payout ratio (DPR) is -67.67%.

American International Group Company 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.