Connor Clark & Lunn Investment Management Ltd. Sells 13,787 Shares of American International Group, Inc. (NYSE:AIG)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 70.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,806 shares of the insurance provider’s stock after selling 13,787 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in American International Group were worth $423,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Artemis Investment Management LLP lifted its position in shares of 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 purchasing an additional 147,235 shares during the last quarter. Beacon Investment Advisory Services Inc. raised its holdings in shares of American International Group by 5.2% in 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 acquiring an additional 3,490 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in shares of American International Group by 54.3% in the fourth quarter. Jones Financial Companies Lllp now owns 12,690 shares of the insurance provider’s stock valued at $924,000 after acquiring an additional 4,468 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of American International Group in the fourth quarter valued at about $1,260,000. Finally, Williams & Novak LLC bought a new stake in shares of American International Group in the fourth quarter valued at about $279,000. 90.60% of the stock is currently owned by institutional investors.

American International Group Price Performance

Shares of AIG stock opened at $83.03 on Friday. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $84.99. The firm has a market capitalization of $49.27 billion, a price-to-earnings ratio of -39.92, a PEG ratio of 1.01 and a beta of 0.98. 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’s 50-day simple moving average is $77.45 and its 200-day simple moving average is $75.56.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 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%. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared 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. This represents a $1.60 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Monday, March 17th. American International Group’s payout ratio is presently -76.92%.

Analysts Set New Price Targets

AIG has been the subject of several recent research reports. Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. BMO Capital Markets lifted their price objective on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a report on Thursday, March 13th. JPMorgan Chase & Co. decreased their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. Keefe, Bruyette & Woods boosted their target price on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $84.31.

Insider Buying and Selling at American International Group

In other American International Group news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.