Welch Capital Partners LLC NY maintained its position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,018 shares of the insurance provider’s stock at the end of the second quarter. American International Group accounts for approximately 2.3% of Welch Capital Partners LLC NY’s portfolio, making the stock its 19th largest position. Welch Capital Partners LLC NY’s holdings in American International Group were worth $7,003,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in AIG. Israel Discount Bank of New York purchased a new position in shares of American International Group during the first quarter valued at approximately $145,000. Chicago Partners Investment Group LLC boosted 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. FTB Advisors Inc. boosted its position 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 valued at $176,000 after buying an additional 1,711 shares during the last quarter. Feltz Wealth PLAN Inc. purchased a new position in shares of American International Group during the first quarter valued at approximately $184,000. Finally, Lincoln National Corp purchased a new position in shares of American International Group during the first quarter valued at approximately $202,000. Institutional investors own 87.76% of the company’s stock.
American International Group, Inc. (NYSE:AIG) opened at 61.67 on Friday. The company’s 50-day moving average is $63.99 and its 200 day moving average is $63.00. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47. The company’s market cap is $55.71 billion. American International Group also was the recipient of unusually large options trading on Wednesday. Stock traders acquired 12,371 call options on the company. This is an increase of approximately 249% compared to the typical volume of 3,541 call options.
American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. Equities analysts forecast that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
American International Group declared that its board has authorized a share repurchase program on Wednesday, May 3rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the insurance provider to buy up to 4.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is currently -711.07%.
Several research analysts have commented on AIG shares. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 target price on shares of American International Group in a report on Monday, April 24th. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a report on Thursday, April 20th. Zacks Investment Research upgraded 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 report on Wednesday, July 5th. Finally, BidaskClub upgraded shares of American International Group from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus 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.
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