Mackenzie Financial Corp Decreases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Mackenzie Financial Corp trimmed its position in American International Group, Inc. (NYSE:AIG) by 26.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,901 shares of the insurance provider’s stock after selling 119,812 shares during the quarter. Mackenzie Financial Corp’s holdings in American International Group were worth $22,419,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AIG. Norges Bank purchased a new position in American International Group during the 4th quarter valued at $736,063,000. Morgan Stanley increased its position in American International Group by 55.1% during the 4th quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after purchasing an additional 3,738,346 shares during the period. Sessa Capital IM L.P. purchased a new position in American International Group during the 1st quarter valued at $73,040,000. Deutsche Bank AG grew its position in shares of American International Group by 58.1% in the 1st quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock worth $185,677,000 after buying an additional 1,354,652 shares during the period. Finally, Steadfast Capital Management LP purchased a new stake in shares of American International Group in the 1st quarter worth about $57,511,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. Evercore ISI upped their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a research report on Thursday, April 11th. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $77.00 in a research report on Tuesday, February 20th. Citigroup upped their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Wells Fargo & Company upped their target price on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus target price of $79.06.

Insider Transactions at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Inglis acquired 659 shares of the stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now directly owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Company insiders own 0.61% of the company’s stock.

American International Group Price Performance

AIG opened at $72.99 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market capitalization of $49.70 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.05 and a beta of 1.03. The company’s 50-day simple moving average is $74.10 and its two-hundred day simple moving average is $68.33. American International Group, Inc. has a 52-week low of $48.95 and a 52-week high of $78.95.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.20. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.36 EPS. As a group, analysts predict that American International Group, Inc. will post 7.05 EPS for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is presently 28.86%.

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.