iA Global Asset Management Inc. Buys 435 Shares of American International Group, Inc. (NYSE:AIG)

iA Global Asset Management Inc. raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,093 shares of the insurance provider’s stock after purchasing an additional 435 shares during the period. iA Global Asset Management Inc.’s holdings in American International Group were worth $867,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its holdings in American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after acquiring an additional 136 shares during the period. Sage Mountain Advisors LLC grew its holdings in American International Group by 2.3% during the 1st quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider’s stock worth $524,000 after acquiring an additional 148 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after acquiring an additional 154 shares during the period. Cary Street Partners Investment Advisory LLC grew its holdings in American International Group by 0.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after acquiring an additional 157 shares during the period. Finally, New Republic Capital LLC grew its stake in shares of American International Group by 5.2% in the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after buying an additional 164 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AIG. BMO Capital Markets raised their target price on American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research note on Monday, May 13th. Wells Fargo & Company lifted their price target on American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, May 10th. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Wednesday, May 15th. JPMorgan Chase & Co. lifted their price target on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Citigroup cut their price target on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $82.56.

American International Group Stock Performance

Shares of NYSE:AIG traded down $4.31 during mid-day trading on Thursday, reaching $74.92. The company had a trading volume of 11,089,782 shares, compared to its average volume of 4,205,426. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market cap of $49.72 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.61 and a beta of 1.08. The company’s 50-day moving average price is $76.11 and its 200-day moving average price is $74.70. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a return on equity of 10.54% and a net margin of 9.98%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period last year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group declared that its board has approved a share repurchase plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director W Don Cornwell 1,000 shares of American International Group stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by company 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.