Bank of Montreal Can Has $51.70 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Bank of Montreal Can trimmed its stake in shares of American International Group, Inc. (NYSE:AIG) by 46.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,873 shares of the insurance provider’s stock after selling 607,868 shares during the quarter. Bank of Montreal Can’s holdings in American International Group were worth $51,695,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Forum Financial Management LP increased its position in American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock worth $904,000 after purchasing an additional 128 shares in the last quarter. Quent Capital LLC grew its holdings in American International Group by 4.0% during the 2nd quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock worth $285,000 after acquiring an additional 146 shares during the last quarter. EagleClaw Capital Managment LLC grew its holdings in American International Group by 0.5% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 30,379 shares of the insurance provider’s stock worth $2,225,000 after acquiring an additional 150 shares during the last quarter. Independent Advisor Alliance grew its holdings in American International Group by 1.6% during the 3rd quarter. Independent Advisor Alliance now owns 10,393 shares of the insurance provider’s stock worth $761,000 after acquiring an additional 161 shares during the last quarter. Finally, Graypoint LLC grew its holdings in American International Group by 2.0% during the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after acquiring an additional 167 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AIG. TD Cowen reduced their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Wednesday, November 6th. Jefferies Financial Group boosted their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets lowered shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, Evercore ISI reduced their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

American International Group Price Performance

AIG opened at $77.13 on Thursday. The firm has a market cap of $48.11 billion, a P/E ratio of -22.75, a PEG ratio of 7.53 and a beta of 1.05. The firm has a 50-day moving average of $75.69 and a 200 day moving average of $75.51. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter last year, the business earned $1.61 earnings per share. On average, research analysts expect that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. American International Group’s dividend payout ratio (DPR) is currently -47.20%.

Insider Activity

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

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.