CIBC World Markets Inc. Sells 16,083 Shares of American International Group Inc. (AIG)
CIBC World Markets Inc. lowered its stake in shares of American International Group Inc. (NYSE:AIG) by 29.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,206 shares of the insurance provider’s stock after selling 16,083 shares during the period. CIBC World Markets Inc.’s holdings in American International Group were worth $2,267,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of AIG. Emerald Acquisition Ltd. bought a new position in American International Group during the second quarter valued at $143,219,000. Standard Life Investments LTD raised its position in American International Group by 0.7% in the second quarter. Standard Life Investments LTD now owns 4,559,523 shares of the insurance provider’s stock worth $241,085,000 after buying an additional 33,662 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in American International Group by 3.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,672,760 shares of the insurance provider’s stock worth $88,472,000 after buying an additional 61,300 shares during the last quarter. Nisa Investment Advisors LLC raised its position in American International Group by 2.4% in the second quarter. Nisa Investment Advisors LLC now owns 327,970 shares of the insurance provider’s stock worth $17,347,000 after buying an additional 7,592 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in American International Group during the second quarter worth approximately $17,713,000. Institutional investors own 82.98% of the company’s stock.
Shares of American International Group Inc. (NYSE:AIG) traded down 0.05% during mid-day trading on Tuesday, hitting $63.28. 4,841,421 shares of the company’s stock traded hands. The firm has a 50-day moving average of $61.50 and a 200 day moving average of $57.85. American International Group Inc. has a 52 week low of $48.41 and a 52 week high of $64.72. The company has a market cap of $65.00 billion, a PE ratio of 206.12 and a beta of 1.37.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.02. American International Group had a net margin of 0.66% and a return on equity of 1.82%. During the same period in the previous year, the business earned $0.52 EPS. Equities research analysts predict that American International Group Inc. will post $3.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 8th will be paid a $0.32 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $1.28 dividend on an annualized basis and a yield of 2.02%. American International Group’s dividend payout ratio (DPR) is 290.92%.
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AIG has been the topic of a number of recent analyst reports. Barclays PLC lifted their price objective on American International Group from $60.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, September 30th. Zacks Investment Research lowered American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Deutsche Bank AG lifted their price objective on American International Group from $58.00 to $59.00 and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Credit Suisse Group AG initiated coverage on American International Group in a research note on Friday, October 7th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, BMO Capital Markets lifted their price objective on American International Group from $58.86 to $64.00 and gave the stock a “market perform” rating in a research note on Monday, August 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.62.
About American International Group
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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