Traders Buy Shares of American International Group, Inc. (AIG) on Weakness

Traders purchased shares of American International Group, Inc. (NYSE:AIG) on weakness during trading on Friday. $50.16 million flowed into the stock on the tick-up and $28.32 million flowed out of the stock on the tick-down, for a money net flow of $21.84 million into the stock. Of all companies tracked, American International Group had the 25th highest net in-flow for the day. American International Group traded down ($0.33) for the day and closed at $61.34

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

The company’s market cap is $55.41 billion. The stock has a 50 day moving average of $63.99 and a 200-day moving average of $63.00. American International Group also saw some unusual options trading on Wednesday. Investors acquired 12,371 call options on the stock. This represents an increase of 249% compared to the typical volume of 3,541 call options.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the business earned $0.98 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.09%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is -711.07%.

American International Group declared that its board has approved a stock buyback program on Wednesday, May 3rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the insurance provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional investors have recently bought and sold shares of the company. Sigma Planning Corp boosted its position in American International Group by 15.6% in the first quarter. Sigma Planning Corp now owns 3,680 shares of the insurance provider’s stock valued at $230,000 after buying an additional 496 shares during the last quarter. Blue Granite Capital LLC boosted its position in American International Group by 11.8% in the first quarter. Blue Granite Capital LLC now owns 38,000 shares of the insurance provider’s stock valued at $2,372,000 after buying an additional 4,000 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in American International Group by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 4,342,201 shares of the insurance provider’s stock valued at $271,084,000 after buying an additional 474,434 shares during the last quarter. Bank of Nova Scotia boosted its position in American International Group by 868.2% in the first quarter. Bank of Nova Scotia now owns 213,547 shares of the insurance provider’s stock valued at $13,332,000 after buying an additional 191,490 shares during the last quarter. Finally, FTB Advisors Inc. boosted its position in 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. Institutional investors and hedge funds own 87.76% of the company’s stock.

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.