Bp Plc Sells 43,000 Shares of American International Group, Inc. (NYSE:AIG)

BP PLC lowered its stake in American International Group, Inc. (NYSE:AIG) by 36.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 75,000 shares of the insurance provider’s stock after selling 43,000 shares during the period. BP PLC’s holdings in American International Group were worth $4,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. raised its stake in American International Group by 450.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,166,582 shares of the insurance provider’s stock valued at $135,259,000 after buying an additional 1,772,801 shares during the period. TD Asset Management Inc. raised its stake in American International Group by 49.4% in the first quarter. TD Asset Management Inc. now owns 3,245,019 shares of the insurance provider’s stock valued at $202,587,000 after buying an additional 1,073,157 shares during the period. Swiss National Bank raised its stake in American International Group by 20.9% in the first quarter. Swiss National Bank now owns 3,639,456 shares of the insurance provider’s stock valued at $227,211,000 after buying an additional 629,400 shares during the period. Harbour Capital Advisors LLC raised its stake in American International Group by 5,983.4% in the second quarter. Harbour Capital Advisors LLC now owns 507,475 shares of the insurance provider’s stock valued at $8,117,000 after buying an additional 499,133 shares during the period. Finally, Epoch Investment Partners Inc. raised its stake 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 period. Hedge funds and other institutional investors own 87.76% of the company’s stock.

American International Group, Inc. (NYSE AIG) traded down 0.54% during mid-day trading on Friday, hitting $61.34. The company had a trading volume of 4,494,724 shares. The firm’s 50 day moving average is $63.93 and its 200 day moving average is $62.98. American International Group, Inc. has a 52 week low of $57.35 and a 52 week high of $67.47. The company’s market capitalization is $55.41 billion. American International Group also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 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 released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the 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 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 earned $0.98 EPS. On average, equities research analysts predict that American International Group, Inc. will post $5.28 EPS for the current year.

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

The business also recently declared 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. 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 (DPR) is presently -711.07%.

AIG has been the topic of several research analyst reports. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $71.00 price target on shares of American International Group in a research note on Monday, April 24th. Wells Fargo & Company restated a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, July 5th. Finally, BidaskClub upgraded American International Group from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Two investment 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 company’s stock. The company has a consensus rating of “Buy” and a consensus target price 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.