Intact Investment Management Inc. Purchases 950 Shares of American International Group, Inc. (NYSE:AIG)

Intact Investment Management Inc. lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 9.3% in the 3rd quarter, Holdings Channel reports. The fund owned 11,140 shares of the insurance provider’s stock after buying an additional 950 shares during the quarter. Intact Investment Management Inc.’s holdings in American International Group were worth $816,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in American International Group by 6.0% during the 3rd quarter. Van ECK Associates Corp now owns 7,645 shares of the insurance provider’s stock worth $592,000 after purchasing an additional 435 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in American International Group by 2.5% during the 3rd quarter. Janney Montgomery Scott LLC now owns 135,508 shares of the insurance provider’s stock worth $9,923,000 after purchasing an additional 3,284 shares in the last quarter. Optas LLC lifted its holdings in American International Group by 20.4% during the 3rd quarter. Optas LLC now owns 3,550 shares of the insurance provider’s stock worth $260,000 after purchasing an additional 601 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in American International Group by 11.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,032 shares of the insurance provider’s stock worth $295,000 after purchasing an additional 430 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in American International Group by 162.4% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 16,877 shares of the insurance provider’s stock worth $1,236,000 after purchasing an additional 10,445 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the topic of a number of recent research reports. Citigroup dropped their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods dropped their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. StockNews.com cut American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Finally, Bank of America raised their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Hold” and a consensus price target of $84.38.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of AIG stock opened at $76.33 on Tuesday. The firm has a market cap of $49.15 billion, a P/E ratio of -59.17, a P/E/G ratio of 5.23 and a beta of 1.05. American International Group, Inc. has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The business’s 50 day moving average price is $75.13 and its 200-day moving average price is $75.63. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

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.