The Manufacturers Life Insurance Company Sells 48,163 Shares of American International Group, Inc. $AIG

The Manufacturers Life Insurance Company cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.3% during the 2nd quarter, Holdings Channel reports. The fund 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 SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System grew its holdings in shares of American International Group by 6,834.8% during the second quarter. California State Teachers Retirement System now owns 65,677,774 shares of the insurance provider’s stock valued at $4,894,964,000 after buying an additional 64,730,704 shares during the last quarter. Norges Bank bought a new position in American International Group during the fourth quarter valued at about $636,782,000. Bank of New York Mellon Corp bought a new position in shares of American International Group during the 2nd quarter valued at approximately $496,890,000. Diamond Hill Capital Management LLC Investment Advisor bought a new position in American International Group during the second quarter valued at $464,539,000. Finally, Price T Rowe Associates Inc. MD increased 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 acquiring an additional 4,661,246 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling

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

American International Group Stock Up 0.4%

AIG stock opened at $75.33 on Friday. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The company has a market capitalization of $39.39 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 0.84 and a beta of 0.50. The business’s 50 day moving average price is $77.79 and its two-hundred day moving average price is $76.84. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61.

American International Group (NYSE:AIG) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same quarter last year, the business posted $1.81 EPS. As a group, analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.7%. American International Group’s dividend payout ratio is 36.56%.

Wall Street Analyst Weigh In

Several research analysts have commented on AIG shares. Morgan Stanley cut their target price on American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 12th. Argus reiterated a “buy” rating and set a $90.00 price objective on shares of American International Group in a research report on Wednesday, September 2nd. Royal Bank Of Canada upped their price target on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. UBS Group raised their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Barclays lifted their price objective on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.37.

American International Group Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.