American International Group, Inc. (AIG) Stake Increased by Seven Eight Capital LP

Seven Eight Capital LP grew its holdings in American International Group, Inc. (NYSE:AIG) by 729.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,900 shares of the insurance provider’s stock after buying an additional 47,400 shares during the period. Seven Eight Capital LP’s holdings in American International Group were worth $3,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its position in shares of 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 last quarter. Lyell Wealth Management LP lifted its position in shares of American International Group by 0.5% in the second quarter. Lyell Wealth Management LP now owns 3,606 shares of the insurance provider’s stock valued at $225,000 after buying an additional 18 shares during the last quarter. First Personal Financial Services lifted its position in shares of American International Group by 0.6% in the second quarter. First Personal Financial Services now owns 6,256 shares of the insurance provider’s stock valued at $391,000 after buying an additional 38 shares during the last quarter. Usca Ria LLC lifted its position in shares of American International Group by 0.4% in the second quarter. Usca Ria LLC now owns 11,505 shares of the insurance provider’s stock valued at $719,000 after buying an additional 50 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its position in shares of American International Group by 1.4% in the first quarter. Great Lakes Advisors LLC now owns 7,079 shares of the insurance provider’s stock valued at $442,000 after buying an additional 96 shares during the last quarter. 84.02% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on AIG shares. BidaskClub cut American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $62.87 to $61.82 in a report on Tuesday, May 16th. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, July 5th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a report on Wednesday, July 5th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 price target on shares of American International Group in a report on Thursday, August 3rd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.08.

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Shares of American International Group, Inc. (AIG) traded up 0.20% during mid-day trading on Tuesday, reaching $60.89. The company’s stock had a trading volume of 1,547,571 shares. The company’s market cap is $55.01 billion. The company has a 50-day moving average of $62.60 and a 200-day moving average of $62.54. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same period last year, the business earned $0.98 earnings per share. Equities research analysts forecast that American International Group, Inc. will post $5.27 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.11%. American International Group’s payout ratio is -711.07%.

American International Group Profile

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.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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