Candriam Luxembourg S.C.A. cut its stake in shares of American International Group Inc (NYSE:AIG) by 2.4% during the 4th quarter, HoldingsChannel reports. The fund owned 61,852 shares of the insurance provider’s stock after selling 1,507 shares during the period. Candriam Luxembourg S.C.A.’s holdings in American International Group were worth $3,685,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of AIG. Bank of Nova Scotia Trust Co. bought a new position in American International Group during the third quarter worth $109,000. Stuart Chaussee & Associates Inc. bought a new position in American International Group during the fourth quarter worth $134,000. Chicago Partners Investment Group LLC bought a new position in American International Group during the third quarter worth $163,000. Rational Advisors LLC boosted its stake in American International Group by 100.0% during the third quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after acquiring an additional 1,500 shares in the last quarter. Finally, First Capital Advisors Group LLC. bought a new position in American International Group during the third quarter worth $200,000. 85.61% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on AIG. B. Riley reissued a “neutral” rating on shares of American International Group in a research note on Monday, November 6th. Bank of America raised shares of American International Group from a “neutral” rating to a “buy” rating and cut their target price for the stock from $59.40 to $58.28 in a research note on Friday, February 9th. Goldman Sachs Group initiated coverage on shares of American International Group in a research note on Monday, December 4th. They set a “neutral” rating and a $61.00 target price on the stock. Zacks Investment Research lowered shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. Finally, Credit Suisse Group set a $73.00 price objective on shares of American International Group and gave the company a “buy” rating in a research note on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. American International Group currently has an average rating of “Hold” and an average price target of $66.91.
American International Group (NYSE:AIG) last announced its earnings results on Thursday, February 8th. The insurance provider reported $0.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.18). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.02%. During the same quarter in the previous year, the company posted ($2.96) earnings per share. sell-side analysts expect that American International Group Inc will post 5.64 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.15%. American International Group’s dividend payout ratio is currently -51.41%.
In other news, insider Claudine Macartney sold 2,052 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $59.61, for a total value of $122,319.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.52% of the company’s stock.
WARNING: “American International Group Inc (AIG) Shares Sold by Candriam Luxembourg S.C.A.” was originally posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.chaffeybreeze.com/2018/02/18/american-international-group-inc-aig-shares-sold-by-candriam-luxembourg-s-c-a.html.
About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group Inc (NYSE:AIG).
Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.