Whittier Trust Co. of Nevada Inc. raised its stake in American International Group, Inc. (NYSE:AIG) by 5.2% during the second quarter, according to its most recent disclosure with the SEC. The firm 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 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Israel Discount Bank of New York purchased a new stake in shares of American International Group during the first quarter worth $145,000. Chicago Partners Investment Group LLC boosted its stake 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 worth $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. boosted its stake in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,711 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new stake in shares of American International Group during the first quarter worth $184,000. Finally, Lincoln National Corp purchased a new stake in shares of American International Group during the first quarter worth $202,000. 87.76% of the stock is owned by institutional investors.
Shares of American International Group, Inc. (NYSE AIG) opened at 63.03 on Wednesday. The stock’s market capitalization is $56.94 billion. American International Group, Inc. has a one year low of $57.35 and a one year high of $67.47. The firm’s 50-day moving average price is $64.06 and its 200-day moving average price is $63.01.
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. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post $5.28 EPS for the current fiscal year.
American International Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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 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 dividend yield of 2.03%. American International Group’s dividend payout ratio is presently -711.07%.
A number of equities research analysts have recently weighed in on the company. BidaskClub cut American International Group from a “hold” rating to a “sell” rating in a research note on Sunday. Deutsche Bank AG reaffirmed a “sell” rating and issued a $60.00 price objective (up from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price objective on shares of American International Group in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. American International Group presently has a consensus rating of “Buy” and a consensus target price of $69.02.
In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was 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 directly owns 80,000 shares of the company’s stock, valued at $4,918,400. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.52% of the stock is owned by company insiders.
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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