American Assets Investment Management LLC Has $1,250,000 Stake in American International Group, Inc. (AIG)

American Assets Investment Management LLC held its position in American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the insurance provider’s stock at the end of the second quarter. American Assets Investment Management LLC’s holdings in American International Group were worth $1,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benson Investment Management Company Inc. purchased a new position in American International Group during the first quarter worth $2,298,000. DnB Asset Management AS raised its position in American International Group by 4.3% in the first quarter. DnB Asset Management AS now owns 109,894 shares of the insurance provider’s stock worth $6,861,000 after buying an additional 4,500 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in American International Group during the first quarter worth $184,000. Mount Vernon Associates Inc. MD raised its position in American International Group by 2.6% in the first quarter. Mount Vernon Associates Inc. MD now owns 20,061 shares of the insurance provider’s stock worth $1,252,000 after buying an additional 500 shares in the last quarter. Finally, Johanson Financial Advisors Inc. purchased a new position in American International Group during the first quarter worth $1,068,000. 87.76% of the stock is owned by hedge funds and other institutional investors.

Shares of American International Group, Inc. (AIG) opened at 62.97 on Thursday. The company has a 50-day moving average of $64.05 and a 200-day moving average of $63.01. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The company’s market cap is $56.89 billion.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the 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 business had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter in the previous year, the company earned $0.98 EPS. Equities analysts forecast that American International Group, Inc. will post $5.28 EPS for the current year.

American International Group announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the insurance provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed 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. This represents a $1.28 annualized dividend and a yield of 2.03%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is -711.07%.

TRADEMARK VIOLATION WARNING: “[[title]]” was reported by [[site]] and is owned by of [[site]]. If you are accessing this report on another website, it was copied illegally and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at [[permalink]].

A number of research analysts have weighed in on AIG shares. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Royal Bank Of Canada reissued a “buy” rating and set a $71.00 target price on shares of American International Group in a research report on Monday, April 24th. TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Morgan Stanley raised shares of American International Group from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $62.87 to $61.82 in a research report on Tuesday, May 16th. Finally, Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. American International Group has an average rating of “Buy” and an average price target of $69.02.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG).