B & T Capital Management DBA Alpha Capital Management boosted its position in shares of American International Group, Inc. (NYSE:AIG) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,945 shares of the insurance provider’s stock after buying an additional 498 shares during the period. American International Group makes up approximately 1.1% of B & T Capital Management DBA Alpha Capital Management’s investment portfolio, making the stock its 28th largest position. B & T Capital Management DBA Alpha Capital Management’s holdings in American International Group were worth $2,310,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Parametrica Management Ltd acquired a new stake in American International Group during the first quarter worth $370,000. Private Bank & Trust Co. increased its stake in shares of 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 valued at $802,000 after buying an additional 2,003 shares during the period. Trust Co increased its stake in shares of American International Group by 6.4% in the fourth quarter. Trust Co now owns 15,061 shares of the insurance provider’s stock valued at $984,000 after buying an additional 910 shares during the period. Confluence Investment Management LLC increased its stake in shares of American International Group by 8.0% in the first quarter. Confluence Investment Management LLC now owns 922,992 shares of the insurance provider’s stock valued at $57,622,000 after buying an additional 68,541 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock valued at $12,183,000 after buying an additional 152,647 shares during the period. Institutional investors own 85.88% of the company’s stock.
American International Group, Inc. (AIG) traded down 0.56% during trading on Friday, reaching $62.65. The company’s stock had a trading volume of 3,676,269 shares. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The stock has a 50 day moving average price of $64.07 and a 200 day moving average price of $63.09. The stock’s market capitalization is $56.60 billion.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Analysts anticipate that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.04%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is currently -711.07%.
American International Group declared that its board has approved a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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AIG has been the topic of several recent research reports. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. BidaskClub lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a report on Thursday, April 20th. Zacks Investment Research lowered shares of American International Group from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Finally, Morgan Stanley raised shares of 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 report on Tuesday, May 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $69.02.
In other news, CEO Brian Duperreault acquired 80,000 shares of the business’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the purchase, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.
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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