Goelzer Investment Management Inc. acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 37,620 shares of the insurance provider’s stock, valued at approximately $2,352,000.
Several other hedge funds also recently made changes to their positions in AIG. Israel Discount Bank of New York bought a new stake in shares of American International Group during the first quarter valued at about $145,000. Chicago Partners Investment Group LLC boosted its stake in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of 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 in the last quarter. Feltz Wealth PLAN Inc. bought a new stake in shares of American International Group during the first quarter valued at about $184,000. Finally, Lincoln National Corp bought a new stake in shares of American International Group during the first quarter valued at about $202,000. 87.76% of the stock is owned by institutional investors.
Shares of American International Group, Inc. (AIG) traded down 0.54% during trading on Friday, reaching $61.34. 4,494,724 shares of the company’s stock were exchanged. The firm’s market capitalization is $55.41 billion. The company has a 50 day moving average of $63.93 and a 200 day moving average of $62.98. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47. American International Group also was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 12,371 call options on the company. This is an increase of 249% compared to the average daily volume of 3,541 call options.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $0.98 EPS. Equities analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
American International Group announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 3rd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is presently -711.07%.
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Several brokerages have recently issued reports on AIG. BidaskClub cut shares of American International Group from a “hold” rating to a “sell” rating in a research note on Sunday, August 13th. Atlantic Securities cut shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 price objective on shares of American International Group in a research note on Thursday, August 3rd. Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price target (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Finally, Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. American International Group has a consensus rating of “Buy” and a consensus target price of $69.02.
American International Group Company Profile
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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