Sigma Planning Corp decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 9.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,316 shares of the insurance provider’s stock after selling 364 shares during the period. Sigma Planning Corp’s holdings in American International Group were worth $207,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AIG. IFC Holdings Incorporated FL boosted its position in American International Group by 14.0% in the first quarter. IFC Holdings Incorporated FL now owns 8,242 shares of the insurance provider’s stock worth $513,000 after buying an additional 1,010 shares during the period. Waldron LP purchased a new position in American International Group during the first quarter worth $208,000. Patriot Wealth Management Inc. boosted its position in 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 period. Nationwide Fund Advisors boosted its position in 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 period. Finally, Loeb Partners Corp boosted its position in 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 period. Institutional investors own 87.76% of the company’s stock.
Shares of American International Group, Inc. (NYSE:AIG) opened at 61.34 on Friday. The stock has a 50 day moving average of $63.93 and a 200-day moving average of $62.98. American International Group, Inc. has a 12-month low of $57.35 and a 12-month 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. Traders acquired 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 posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The firm had revenue of $11.23 billion for 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 period last year, the firm posted $0.98 earnings per share. Equities research analysts forecast that American International Group, Inc. will post $5.28 EPS for the current year.
American International Group announced that its board has initiated a stock buyback program on Wednesday, May 3rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits 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 management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.
A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods restated a “buy” rating and set a $75.00 target price on shares of American International Group in a research note 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 reiterated a “sell” rating and issued a $60.00 price target (up from $57.00) on shares of American International Group in a report on Wednesday, August 9th. Finally, Atlantic Securities downgraded shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price target 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average 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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