TD Asset Management Inc Sells 62,914 Shares of American International Group, Inc. $AIG

TD Asset Management Inc lowered its stake in shares of American International Group, Inc. (NYSE:AIG) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 357,707 shares of the insurance provider’s stock after selling 62,914 shares during the quarter. TD Asset Management Inc owned approximately 0.07% of American International Group worth $30,602,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp lifted its position in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares during the period. Navalign LLC acquired a new position in American International Group during the 4th quarter valued at about $29,000. Aventura Private Wealth LLC acquired a new position in American International Group during the 4th quarter valued at about $39,000. JPL Wealth Management LLC acquired a new position in American International Group during the 3rd quarter valued at about $39,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in American International Group during the 4th quarter valued at about $52,000. Institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AIG. Piper Sandler cut their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Morgan Stanley cut their target price on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Citigroup upped their target price on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Barclays upped their target price on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Mizuho upped their target price on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $88.06.

American International Group Stock Performance

Shares of NYSE:AIG opened at $75.51 on Friday. The company has a market capitalization of $40.03 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.69 and a beta of 0.52. The firm’s 50 day simple moving average is $76.04 and its 200 day simple moving average is $77.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.46.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period last year, the company posted $1.17 EPS. As a group, sell-side analysts forecast that American International Group, Inc. will post 7.99 earnings per share for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. The ex-dividend date is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is 31.75%.

American International Group Profile

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.