Caisse de depot et placement du Quebec Trims Holdings in American International Group, Inc. $AIG

Caisse de depot et placement du Quebec reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 24.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,135,326 shares of the insurance provider’s stock after selling 673,553 shares during the period. Caisse de depot et placement du Quebec owned 0.41% of American International Group worth $159,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC purchased a new position in shares of American International Group during the fourth quarter valued at approximately $1,091,000. Sivia Capital Partners LLC raised its holdings in American International Group by 30.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock valued at $432,000 after acquiring an additional 1,185 shares during the last quarter. Flow Traders U.S. LLC acquired a new position in American International Group in the 2nd quarter valued at $217,000. Ieq Capital LLC lifted its stake in shares of American International Group by 11.5% during the 2nd quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after purchasing an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC acquired a new stake in shares of American International Group during the second quarter worth $269,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 0.9%

NYSE AIG opened at $77.04 on Thursday. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The company’s 50 day moving average price is $77.82 and its 200 day moving average price is $77.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market capitalization of $40.28 billion, a price-to-earnings ratio of 14.08, a PEG ratio of 0.70 and a beta of 0.53.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The company had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the previous year, the firm earned $1.81 earnings per share. On average, sell-side analysts predict that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 16th. American International Group’s dividend payout ratio is 36.56%.

Insiders Place Their Bets

In related news, insider Peter Zaffino sold 36,829 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the sale, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AIG. Keefe, Bruyette & Woods lifted their price objective on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. The Goldman Sachs Group raised their price target on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Wells Fargo & Company lowered their price target on American International Group from $89.00 to $85.00 and set an “equal weight” rating for the company in a report on Monday, August 10th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. Finally, Citigroup increased their price objective on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $88.28.

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.