Scotia Capital Inc. Has $12.22 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Scotia Capital Inc. reduced its stake in American International Group, Inc. (NYSE:AIG) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,910 shares of the insurance provider’s stock after selling 51,708 shares during the period. Scotia Capital Inc.’s holdings in American International Group were worth $12,224,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AIG. Artemis Investment Management LLP raised its stake in American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after buying an additional 147,235 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in shares of American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after acquiring an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of American International Group by 54.3% during the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 4,468 shares during the period. Merit Financial Group LLC bought a new position in shares of American International Group in the 4th quarter worth $1,260,000. Finally, Williams & Novak LLC acquired a new stake in American International Group in the 4th quarter valued at $279,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $98.00 to $94.00 and set an “outperform” rating on the stock in a research note on Wednesday. Evercore ISI raised their price target on shares of American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Barclays boosted their price objective on American International Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Morgan Stanley raised their target price on American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, April 4th. Finally, Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.59.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice acquired 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group Stock Down 1.8 %

AIG opened at $81.31 on Friday. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The company’s 50-day moving average price is $80.22 and its two-hundred day moving average price is $76.60. The stock has a market cap of $48.42 billion, a price-to-earnings ratio of -39.09, a PEG ratio of 1.01 and a beta of 0.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.97%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is currently -76.92%.

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.