Intact Investment Management Inc. Acquires 3,860 Shares of American International Group, Inc. (NYSE:AIG)

Intact Investment Management Inc. grew its holdings in American International Group, Inc. (NYSE:AIG) by 34.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,000 shares of the insurance provider’s stock after purchasing an additional 3,860 shares during the period. Intact Investment Management Inc.’s holdings in American International Group were worth $1,092,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in AIG. Atlanta Consulting Group Advisors LLC bought a new stake in American International Group during the 3rd quarter worth about $494,000. Artemis Investment Management LLP raised its holdings in American International Group by 115.9% during the fourth quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after acquiring an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. boosted its position in American International Group by 5.2% during the fourth quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after purchasing an additional 3,490 shares during the last quarter. Merit Financial Group LLC bought a new position in American International Group in the fourth quarter valued at approximately $1,260,000. Finally, Williams & Novak LLC acquired a new position in shares of American International Group during the 4th quarter worth approximately $279,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Up 2.2 %

AIG opened at $83.37 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a fifty day moving average of $76.25 and a 200-day moving average of $75.30. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $83.77. The company has a market capitalization of $49.47 billion, a P/E ratio of -40.08, a P/E/G ratio of 1.01 and a beta of 0.98.

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

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.92%. American International Group’s dividend payout ratio is presently -76.92%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AIG shares. Wells Fargo & Company raised their target price on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 price objective (down previously from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. UBS Group dropped their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Morgan Stanley lifted their price target on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, BMO Capital Markets upped their price objective on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research note on Thursday. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.31.

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 shares were purchased at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

About American International Group

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.