Goelzer Investment Management Inc. Acquires Shares of 37,620 American International Group, Inc. (AIG)

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.

Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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