Arrow Financial Corp reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 10.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,065 shares of the insurance provider’s stock after selling 2,264 shares during the period. Arrow Financial Corp’s holdings in American International Group were worth $1,191,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of AIG. Macquarie Group Ltd. boosted its stake in American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock worth $12,183,000 after buying an additional 152,647 shares during the period. Private Bank & Trust Co. boosted its stake in American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock worth $802,000 after buying an additional 2,003 shares during the period. Parametrica Management Ltd acquired a new stake in American International Group during the first quarter worth approximately $370,000. Atria Investments LLC boosted its stake in American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock worth $1,730,000 after buying an additional 694 shares during the period. Finally, Eastern Bank boosted its stake in American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock worth $451,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 87.76% of the company’s stock.
American International Group, Inc. (NYSE:AIG) traded down 0.54% during trading on Friday, reaching $61.34. The company’s stock had a trading volume of 4,494,724 shares. 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. The company has a 50 day moving average price of $63.93 and a 200-day moving average price of $62.98. American International Group also was the target of unusually large options trading on Wednesday. Traders purchased 12,371 call options on the stock. This represents an increase of approximately 249% compared to the typical daily volume of 3,541 call options.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current year.
American International Group announced that its board has initiated a stock repurchase program on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 4.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is -711.07%.
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AIG has been the subject of a number of recent analyst reports. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research report on Monday, April 24th. TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. 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, Wells Fargo & Company restated a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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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