Rothschild Investment Corp IL reduced its position in American International Group, Inc. (NYSE:AIG) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,431 shares of the insurance provider’s stock after selling 110 shares during the period. Rothschild Investment Corp IL’s holdings in American International Group were worth $4,966,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Atria Investments LLC raised its position in American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock worth $1,730,000 after buying an additional 694 shares during the last quarter. Parametrica Management Ltd acquired a new position in American International Group during the first quarter worth approximately $370,000. Private Bank & Trust Co. raised its position in American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock worth $802,000 after buying an additional 2,003 shares during the last quarter. Trust Co raised its position in American International Group by 6.4% in the fourth quarter. Trust Co now owns 15,061 shares of the insurance provider’s stock worth $984,000 after buying an additional 910 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in American International Group by 8.0% in the first quarter. Confluence Investment Management LLC now owns 922,992 shares of the insurance provider’s stock worth $57,622,000 after buying an additional 68,541 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
American International Group, Inc. (AIG) traded down 2.06% during midday trading on Thursday, reaching $61.67. The company’s stock had a trading volume of 5,174,935 shares. American International Group, Inc. has a 52 week low of $57.35 and a 52 week high of $67.47. The firm’s market cap is $55.71 billion. The firm has a 50 day moving average price of $63.99 and a 200-day moving average price of $63.00. American International Group also saw unusually large options trading activity on Wednesday. Investors bought 12,371 call options on the stock. This is an increase of 249% compared to the average volume of 3,541 call options.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same period last year, the firm earned $0.98 earnings per share. On average, 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 of Directors has approved a stock buyback program on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are 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 issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.08%. American International Group’s dividend payout ratio is presently -711.07%.
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A number of research firms have recently commented on AIG. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price objective on shares of American International Group in a research note on Thursday, August 3rd. BidaskClub upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG reiterated 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. Finally, Atlantic Securities lowered American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a research note on Wednesday, August 9th. 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 assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $69.02.
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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