Nippon Life Insurance Co. lowered its position in American International Group, Inc. (NYSE:AIG) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,125 shares of the insurance provider’s stock after selling 195 shares during the period. Nippon Life Insurance Co.’s holdings in American International Group were worth $2,259,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of AIG. Sigma Planning Corp raised its stake in shares of American International Group by 15.6% in the first quarter. Sigma Planning Corp now owns 3,680 shares of the insurance provider’s stock worth $230,000 after buying an additional 496 shares during the last quarter. Waldron LP bought a new stake in shares of American International Group during the first quarter worth approximately $208,000. Patriot Wealth Management Inc. raised its stake in shares of American International Group by 64.2% in the first quarter. Patriot Wealth Management Inc. now owns 135,241 shares of the insurance provider’s stock worth $8,443,000 after buying an additional 52,887 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of American International Group by 0.3% in the first quarter. Nationwide Fund Advisors now owns 579,926 shares of the insurance provider’s stock worth $36,205,000 after buying an additional 1,651 shares during the last quarter. Finally, Loeb Partners Corp raised its stake in shares of American International Group by 133.3% in the first quarter. Loeb Partners Corp now owns 17,502 shares of the insurance provider’s stock worth $1,093,000 after buying an additional 10,000 shares during the last quarter. Institutional investors and hedge funds own 87.76% of the company’s stock.
American International Group, Inc. (NYSE AIG) opened at 61.34 on Friday. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The stock’s 50 day moving average is $63.93 and its 200 day moving average is $62.98. The firm’s market capitalization is $55.41 billion. American International Group also saw some unusual options trading activity on Wednesday. Investors bought 12,371 call options on the stock. This represents an increase of approximately 249% compared to the typical 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, 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 the consensus estimate of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same quarter in the prior year, the company posted $0.98 earnings per share. Analysts predict that American International Group, Inc. will post $5.28 EPS for the current fiscal year.
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 issued a $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. American International Group’s dividend payout ratio is currently -711.07%.
American International Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 3rd that permits the company to repurchase $2.50 billion in shares. This repurchase authorization permits the insurance provider to buy up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
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A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 price objective on shares of American International Group in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Deutsche Bank AG restated a “sell” rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a report on Wednesday, August 9th. Finally, Atlantic Securities lowered shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective on the stock. in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus 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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