Windward Capital Management Co. CA raised its position in American International Group, Inc. (NYSE:AIG) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 160,164 shares of the insurance provider’s stock after buying an additional 1,987 shares during the period. American International Group comprises 1.7% of Windward Capital Management Co. CA’s investment portfolio, making the stock its 28th largest position. Windward Capital Management Co. CA’s holdings in American International Group were worth $10,013,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. River & Mercantile Asset Management LLP acquired a new position in shares of American International Group during the fourth quarter worth approximately $2,593,000. Lincluden Management Ltd. raised its position in shares of American International Group by 4.9% in the fourth quarter. Lincluden Management Ltd. now owns 161,215 shares of the insurance provider’s stock worth $10,529,000 after buying an additional 7,459 shares during the period. Wealthfront Inc. raised its position in shares of American International Group by 38.3% in the fourth quarter. Wealthfront Inc. now owns 16,873 shares of the insurance provider’s stock worth $1,102,000 after buying an additional 4,670 shares during the period. Orbis Allan Gray Ltd increased its position in shares of American International Group by 74.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,446,372 shares of the insurance provider’s stock worth $225,083,000 after buying an additional 1,471,384 shares in the last quarter. Finally, Whalerock Point Partners LLC increased its position in shares of American International Group by 1.8% in the fourth quarter. Whalerock Point Partners LLC now owns 19,647 shares of the insurance provider’s stock worth $1,283,000 after buying an additional 350 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.
American International Group, Inc. (AIG) opened at 62.65 on Friday. The stock’s market capitalization is $56.60 billion. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The firm has a 50-day moving average of $64.07 and a 200-day moving average of $63.09.
American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping 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 business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. Equities analysts expect that American International Group, Inc. will post $5.28 EPS for the current fiscal year.
American International Group announced that its board has approved a stock buyback program on Wednesday, May 3rd that authorizes the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 2.04%. American International Group’s dividend payout ratio is presently -711.07%.
A number of brokerages recently weighed in on AIG. Deutsche Bank AG reissued a “sell” rating and set a $60.00 target price (up previously from $57.00) on shares of American International Group in a research note on Wednesday. Atlantic Securities downgraded shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 target price for the company. in a research note on Wednesday. BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price target on shares of American International Group in a research note on Thursday, August 3rd. Finally, Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $69.02.
In related news, CEO Brian Duperreault acquired 80,000 shares of the stock in a transaction on Thursday, May 18th. The shares were acquired at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the transaction, the chief executive officer now owns 80,000 shares in the company, valued at approximately $4,918,400. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.52% of the company’s stock.
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.
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