American International Group, Inc. (AIG) Shares Sold by Stuyvesant Capital Management

Stuyvesant Capital Management cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,009 shares of the insurance provider’s stock after selling 20 shares during the period. American International Group accounts for approximately 5.7% of Stuyvesant Capital Management’s portfolio, making the stock its 5th largest position. Stuyvesant Capital Management’s holdings in American International Group were worth $2,876,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in American International Group during the second quarter valued at approximately $1,858,000. Knights of Columbus Asset Advisors LLC acquired a new stake in American International Group during the second quarter valued at approximately $735,000. Buckingham Asset Management LLC acquired a new stake in American International Group during the second quarter valued at approximately $277,000. Neuberger Berman Group LLC boosted its stake in American International Group by 1,334.1% in the second quarter. Neuberger Berman Group LLC now owns 1,227,754 shares of the insurance provider’s stock valued at $76,759,000 after buying an additional 1,142,143 shares in the last quarter. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in American International Group by 12.7% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 240,718 shares of the insurance provider’s stock valued at $15,050,000 after buying an additional 27,217 shares in the last quarter. 84.02% of the stock is owned by institutional investors and hedge funds.

American International Group, Inc. (AIG) traded down 0.71% during trading on Monday, reaching $60.35. The company’s stock had a trading volume of 614,986 shares. The firm’s market capitalization is $54.52 billion. American International Group, Inc. has a 52 week low of $57.35 and a 52 week high of $67.47. The firm has a 50-day moving average price of $63.61 and a 200-day moving average price of $62.85.

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, topping analysts’ consensus estimates of $1.20 by $0.33. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations 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. On average, equities analysts anticipate that American International Group, Inc. will post $5.34 EPS for the current fiscal year.

The company also recently declared 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. The ex-dividend date is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.11%. American International Group’s dividend payout ratio is -711.07%.

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 repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Several analysts have recently commented on the company. BidaskClub cut American International Group from a “sell” rating to a “strong sell” rating in a report on Friday. Deutsche Bank AG reissued 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. Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $75.00 price target on shares of American International Group in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently 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.