Bank of Nova Scotia Boosts Stake in American International Group, Inc. (NYSE:AIG)

Bank of Nova Scotia boosted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 327,052 shares of the insurance provider's stock after acquiring an additional 110,693 shares during the period. Bank of Nova Scotia owned about 0.05% of American International Group worth $23,809,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AIG. Catalina Capital Group LLC boosted its stake in American International Group by 5.1% during the 4th quarter. Catalina Capital Group LLC now owns 3,044 shares of the insurance provider's stock worth $222,000 after purchasing an additional 148 shares during the period. Pitcairn Co. grew its holdings in shares of American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider's stock worth $536,000 after buying an additional 158 shares during the last quarter. Hilltop National Bank increased its position in American International Group by 4.7% in the 4th quarter. Hilltop National Bank now owns 3,888 shares of the insurance provider's stock valued at $283,000 after acquiring an additional 175 shares during the period. Cidel Asset Management Inc. lifted its position in American International Group by 2.1% during the 4th quarter. Cidel Asset Management Inc. now owns 8,711 shares of the insurance provider's stock worth $634,000 after acquiring an additional 179 shares during the period. Finally, Brown Brothers Harriman & Co. grew its stake in shares of American International Group by 11.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider's stock valued at $127,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company's stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their price target on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a report on Tuesday, April 1st. BMO Capital Markets raised their target price on shares of American International Group from $75.00 to $83.00 and gave the stock a "market perform" rating in a research note on Thursday, March 13th. UBS Group cut their price target on shares of American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a report on Tuesday, February 18th. Keefe, Bruyette & Woods dropped their target price on American International Group from $98.00 to $94.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Barclays decreased their price target on American International Group from $98.00 to $92.00 and set an "overweight" rating on the stock in a research note on Friday. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.65.

American International Group Price Performance

American International Group stock traded up $0.89 during mid-day trading on Tuesday, hitting $82.39. 1,693,967 shares of the company were exchanged, compared to its average volume of 5,152,633. American International Group, Inc. has a 12-month low of $69.00 and a 12-month high of $88.07. The company has a market capitalization of $49.06 billion, a P/E ratio of -39.61, a PEG ratio of 1.01 and a beta of 0.63. The business's 50 day simple moving average is $80.57 and its two-hundred day simple moving average is $76.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

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

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were paid a $0.40 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.94%. American International Group's payout ratio is currently -76.92%.

American International Group 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.