Kirr Marbach & Co. LLC IN cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,325 shares of the insurance provider’s stock after selling 3,314 shares during the period. American International Group comprises 3.1% of Kirr Marbach & Co. LLC IN’s portfolio, making the stock its 9th largest position. Kirr Marbach & Co. LLC IN’s holdings in American International Group were worth $14,087,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. TIAA CREF Investment Management LLC raised its position in American International Group by 1.5% in the first quarter. TIAA CREF Investment Management LLC now owns 7,753,856 shares of the insurance provider’s stock valued at $484,073,000 after buying an additional 116,955 shares during the period. Pzena Investment Management LLC raised its position in American International Group by 7.0% in the first quarter. Pzena Investment Management LLC now owns 6,389,150 shares of the insurance provider’s stock valued at $398,875,000 after buying an additional 416,152 shares during the period. Legal & General Group Plc raised its position in American International Group by 1.1% in the first quarter. Legal & General Group Plc now owns 5,371,867 shares of the insurance provider’s stock valued at $335,356,000 after buying an additional 57,104 shares during the period. Epoch Investment Partners Inc. raised its position in American International Group by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 4,342,201 shares of the insurance provider’s stock valued at $271,084,000 after buying an additional 474,434 shares during the period. Finally, Swiss National Bank raised its position in American International Group by 20.9% in the first quarter. Swiss National Bank now owns 3,639,456 shares of the insurance provider’s stock valued at $227,211,000 after buying an additional 629,400 shares during the period. Institutional investors own 86.02% of the company’s stock.
American International Group, Inc. (NYSE AIG) opened at 65.08 on Friday. The firm has a market capitalization of $60.25 billion, a P/E ratio of 132.28 and a beta of 1.14. The firm has a 50-day moving average price of $63.89 and a 200-day moving average price of $63.11. American International Group, Inc. has a one year low of $56.80 and a one year high of $67.47.
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 5.95% and a negative net margin of 0.53%. The company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period last year, the business posted $0.98 EPS. Equities analysts anticipate that American International Group, Inc. will post $5.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. American International Group’s dividend payout ratio (DPR) is currently -711.07%.
American International Group announced that its board has approved a stock repurchase plan on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the insurance provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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A number of equities research analysts have recently weighed in on AIG shares. BidaskClub lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Credit Suisse Group set a $72.00 price target on American International Group and gave the stock a “buy” rating in a research note on Saturday, April 15th. Morgan Stanley upgraded 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 research note on Tuesday, May 16th. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, July 5th. Finally, Wells Fargo & Co restated a “buy” rating on shares of American International Group in a research note on Wednesday, April 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.22.
In related news, CEO Brian Duperreault bought 80,000 shares of the 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 purchase, the chief executive officer now owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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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