Mackenzie Financial Corp Sells 119,812 Shares of American International Group, Inc. (NYSE:AIG)

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

A number of other institutional investors and hedge funds also recently made changes to their positions in AIG. OFI Invest Asset Management acquired a new position in American International Group during the 3rd quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in American International Group during the 3rd quarter worth approximately $32,000. CNB Bank acquired a new position in American International Group during the 3rd quarter worth approximately $42,000. SouthState Corp increased its position in American International Group by 41.7% during the 3rd quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 217 shares in the last quarter. Finally, Blue Trust Inc. increased its position in American International Group by 41.7% during the 4th quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after purchasing an additional 232 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

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

American International Group Trading Up 0.6 %

AIG opened at $72.99 on Friday. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $74.10 and a 200-day moving average of $68.33. The stock has a market cap of $49.70 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of 1.05 and a beta of 1.03.

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

American International Group Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. TD Cowen assumed coverage on shares of American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective for the company. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Bank of America cut shares of American International Group from a “buy” rating to a “neutral” rating and upped their price target for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. Evercore ISI upped their price target on shares of American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, April 8th. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.06.

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.