Eagle Global Advisors LLC boosted its stake in American International Group, Inc. (NYSE:AIG) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,401 shares of the insurance provider’s stock after buying an additional 237 shares during the period. Eagle Global Advisors LLC’s holdings in American International Group were worth $9,403,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIG. Israel Discount Bank of New York purchased a new position in American International Group during the first quarter valued at about $145,000. Chicago Partners Investment Group LLC increased its position in American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the period. FTB Advisors Inc. increased its position in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the period. Feltz Wealth PLAN Inc. purchased a new position in American International Group during the first quarter valued at about $184,000. Finally, Lincoln National Corp purchased a new position in American International Group during the first quarter valued at about $202,000. 85.88% of the stock is owned by institutional investors and hedge funds.
American International Group, Inc. (NYSE AIG) traded down 0.56% during mid-day trading on Friday, reaching $62.65. The company’s stock had a trading volume of 3,676,269 shares. The firm’s market capitalization is $56.60 billion. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The firm has a 50-day moving average of $64.07 and a 200 day moving average of $63.09.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the company earned $0.98 EPS. Equities analysts expect that American International Group, Inc. will post $5.28 earnings per share for the current year.
American International Group announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the insurance provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 2.04%. American International Group’s payout ratio is -711.07%.
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Several research firms have recently issued reports on AIG. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price target on shares of American International Group in a research note on Thursday, August 3rd. BidaskClub raised American International Group from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Atlantic Securities downgraded American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price target for the company. in a research note on Wednesday. Finally, Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price target (up previously from $57.00) on shares of American International Group in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $69.02.
In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the purchase, the chief executive officer now directly owns 80,000 shares in the company, valued at $4,918,400. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.52% of the stock is owned by corporate insiders.
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.
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