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

Scotia Capital Inc. cut its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 23.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,910 shares of the insurance provider's stock after selling 51,708 shares during the quarter. Scotia Capital Inc.'s holdings in American International Group were worth $12,224,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AIG. Duncker Streett & Co. Inc. bought a new stake in American International Group in the 4th quarter valued at about $25,000. Asset Planning Inc acquired a new stake in shares of American International Group in the fourth quarter worth $26,000. BankPlus Trust Department bought a new stake in shares of American International Group in the 4th quarter worth approximately $36,000. Whipplewood Advisors LLC bought a new stake in American International Group in the fourth quarter valued at about $40,000. Finally, Fortitude Family Office LLC boosted its stake in shares of American International Group by 58.3% in the 4th quarter. Fortitude Family Office LLC now owns 570 shares of the insurance provider's stock valued at $41,000 after purchasing an additional 210 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

NYSE AIG traded up $0.45 on Wednesday, hitting $82.40. 1,079,948 shares of the company's stock were exchanged, compared to its average volume of 4,458,195. The firm's 50-day moving average price is $80.72 and its two-hundred day moving average price is $76.79. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market cap of $49.07 billion, a price-to-earnings ratio of -39.62, a P/E/G ratio of 1.01 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results 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 positive return on equity of 8.01% and a negative net margin of 4.25%. On average, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

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

Analyst Ratings Changes

AIG has been the topic of a number of recent research reports. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 price objective (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of American International Group to $91.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Hsbc Global Res upgraded shares of American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. Morgan Stanley lifted their target price on shares of American International Group from $76.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, April 4th. Finally, HSBC upgraded shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective for the company in a research report on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.65.

Insider Activity

In other news, Director John G. Rice acquired 10,000 shares of American International Group 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 transaction, the director now owns 10,000 shares of the company's stock, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

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.