6,608 Shares in American International Group, Inc. (AIG) Acquired by AT Bancorp

AT Bancorp bought a new stake in 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 bought 6,608 shares of the insurance provider’s stock, valued at approximately $414,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Israel Discount Bank of New York purchased a new position in American International Group during the first quarter valued at $145,000. Chicago Partners Investment Group LLC increased 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 worth $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased 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 worth $176,000 after buying an additional 1,711 shares during the last quarter. Feltz Wealth PLAN Inc. bought a new position in shares of American International Group during the first quarter worth approximately $184,000. Finally, Lincoln National Corp bought a new position in shares of American International Group during the first quarter worth approximately $202,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of American International Group, Inc. (NYSE AIG) remained flat at $61.67 during mid-day trading on Friday. The company had a trading volume of 2,790,899 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 company’s 50 day moving average price is $63.99 and its 200 day moving average price is $63.00. American International Group also was the recipient of some unusual options trading on Wednesday. Stock investors purchased 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 issued its 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 company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Analysts forecast that American International Group, Inc. will post $5.28 earnings per share for the current year.

American International Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 3rd that permits the company to buyback $2.50 billion in outstanding shares. This buyback authorization permits 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 leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders 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 dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s payout ratio is -711.07%.

AIG has been the topic of a number of research analyst reports. TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 price objective on shares of American International Group in a research report on Monday, April 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, July 5th. Finally, BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company 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.