Mackenzie Financial Corp Lowers stake in American International Group Inc (AIG)

American International Group Inc (AIG) : Mackenzie Financial Corp reduced its stake in American International Group Inc by 13.66% during the most recent quarter end. The investment management company now holds a total of 6,662,489 shares of American International Group Inc which is valued at $392,087,478 after selling 1,053,961 shares in American International Group Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.American International Group Inc makes up approximately 2.13% of Mackenzie Financial Corp’s portfolio.

Other Hedge Funds, Including , Gmt Capital Corp boosted its stake in AIG in the latest quarter, The investment management firm added 20,800 additional shares and now holds a total of 756,500 shares of American International Group Inc which is valued at $44,769,670. American International Group Inc makes up approx 1.00% of Gmt Capital Corp’s portfolio.Bremer Trust National Association boosted its stake in AIG in the latest quarter, The investment management firm added 90 additional shares and now holds a total of 13,631 shares of American International Group Inc which is valued at $744,525. American International Group Inc makes up approx 0.20% of Bremer Trust National Association’s portfolio.Strategic Advisors boosted its stake in AIG in the latest quarter, The investment management firm added 560 additional shares and now holds a total of 18,373 shares of American International Group Inc which is valued at $1,002,615. American International Group Inc makes up approx 0.56% of Strategic Advisors’s portfolio.Sumitomo Life Insurance Co reduced its stake in AIG by selling 24,436 shares or 32.03% in the most recent quarter. The Hedge Fund company now holds 51,848 shares of AIG which is valued at $2,828,827. American International Group Inc makes up approx 0.38% of Sumitomo Life Insurance Co’s portfolio.

American International Group Inc opened for trading at $59.15 and hit $59.7399 on the upside on Monday, eventually ending the session at $59.43, with a gain of 0.69% or 0.41 points. The heightened volatility saw the trading volume jump to 36,75,949 shares. Company has a market cap of $63,629 M.

On the company’s financial health, American International Group Inc reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.94.Analysts expectations of $ 13096.15.During the same quarter in the previous year, the company posted $1.39 EPS.

Investors should note that on Aug 2, 2016, American International Group Inc announced a cash dividend of $0.3200. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on American International Group Inc. Company shares were Reiterated by Deutsche Bank on Aug 11, 2016 to “Hold”, Firm has raised the Price Target to $ 61 from a previous price target of $59 .Company shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Hold”, Firm has raised the Price Target to $ 59 from a previous price target of $58 .American International Group Inc was Upgraded by Wells Fargo to ” Outperform” on May 17, 2016.

American International Group Inc. (AIG) is an insurance company. The Company provides a range of property casualty insurance life insurance retirement products mortgage insurance and other financial services. Its various offerings include products and services that help businesses and individuals protect their assets manage risks and provide for retirement security. The Company’s AIG Global Benefits Network provides administrative and marketing services to insurance companies offering benefit solutions to multinational employers. AIG Global Benefits Network can develop global benefit plan solutions for multinational clients by tapping the coverage options offered by carriers throughout the network. AIG operates through two segments: Commercial Insurance and Consumer Insurance. Commercial Insurance is a provider of insurance products and services for commercial and institutional customers.

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