Whittier Trust Co. of Nevada Inc. Has $1.30 Million Position in American International Group, Inc. (NYSE:AIG)

Whittier Trust Co. of Nevada Inc. raised its position in shares of American International Group, Inc. (NYSE:AIG) by 5.2% during the second quarter, Holdings Channel reports. The institutional investor owned 20,777 shares of the insurance provider’s stock after buying an additional 1,028 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in American International Group were worth $1,299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Chicago Partners Investment Group LLC boosted 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 worth $165,000 after buying an additional 14 shares in the last quarter. Lyell Wealth Management LP boosted its position in American International Group by 0.5% in the first quarter. Lyell Wealth Management LP now owns 3,588 shares of the insurance provider’s stock worth $224,000 after buying an additional 19 shares in the last quarter. Welch & Forbes LLC boosted its position in American International Group by 0.7% in the first quarter. Welch & Forbes LLC now owns 4,502 shares of the insurance provider’s stock worth $281,000 after buying an additional 33 shares in the last quarter. Wetherby Asset Management Inc. raised its stake in shares of American International Group by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 16,042 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 62 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its stake 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 worth $442,000 after buying an additional 96 shares during the last quarter. 86.16% of the stock is currently owned by hedge funds and other institutional investors.

American International Group, Inc. (AIG) traded down 0.40% during trading on Friday, hitting $63.97. The company had a trading volume of 1,754,943 shares. The stock has a market capitalization of $59.22 billion, a price-to-earnings ratio of 130.02 and a beta of 1.13. American International Group, Inc. has a 52-week low of $53.93 and a 52-week high of $67.47. The firm’s 50 day moving average is $63.59 and its 200-day moving average is $63.21.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.25. American International Group had a net margin of 1.00% and a return on equity of 5.36%. The firm had revenue of $11.31 billion during the quarter, compared to analysts’ expectations of $11 billion. During the same period in the previous year, the company earned $0.65 earnings per share. On average, equities analysts forecast that American International Group, Inc. will post $5.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Shareholders of record on Wednesday, June 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Monday, June 12th. This represents a $1.28 dividend on an annualized basis and a yield of 1.99%. American International Group’s dividend payout ratio is presently 412.92%.

American International Group declared that its board has approved a share repurchase plan on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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AIG has been the subject of a number of research reports. Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $62.87 to $61.82 in a report on Tuesday, May 16th. Wells Fargo & Company restated a “hold” rating on shares of American International Group in a report on Friday, March 24th. J P Morgan Chase & Co lowered their target price on American International Group from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. Vetr upgraded American International Group from a “buy” rating to a “strong-buy” rating and set a $72.50 target price for the company in a report on Tuesday, March 28th. Finally, TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.15.

In other American International Group news, CEO Brian Duperreault acquired 80,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the purchase, the chief executive officer now owns 80,000 shares in the company, valued at approximately $4,918,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.52% of the company’s stock.

American International Group Company 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.

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