Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 14.8% during the second quarter, Holdings Channel reports. The institutional investor owned 139,533 shares of the insurance provider’s stock after selling 24,278 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in American International Group were worth $8,724,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in AIG. Canada Pension Plan Investment Board increased its position in American International Group by 12.6% in the second quarter. Canada Pension Plan Investment Board now owns 11,631,827 shares of the insurance provider’s stock worth $727,222,000 after buying an additional 1,300,900 shares during the period. TIAA CREF Investment Management LLC increased its position in American International Group by 1.5% in the first quarter. TIAA CREF Investment Management LLC now owns 7,753,856 shares of the insurance provider’s stock worth $484,073,000 after buying an additional 116,955 shares during the period. Boston Partners increased its position in American International Group by 262.4% in the second quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after buying an additional 4,968,504 shares during the period. Pzena Investment Management LLC increased its position in American International Group by 7.0% in the first quarter. Pzena Investment Management LLC now owns 6,389,150 shares of the insurance provider’s stock worth $398,875,000 after buying an additional 416,152 shares during the period. Finally, Legal & General Group Plc increased its position in American International Group by 1.1% in the first quarter. Legal & General Group Plc now owns 5,371,867 shares of the insurance provider’s stock worth $335,356,000 after buying an additional 57,104 shares during the period. Institutional investors own 85.88% of the company’s stock.

American International Group, Inc. (NYSE:AIG) opened at 63.00 on Friday. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47. The company has a 50-day moving average price of $64.08 and a 200 day moving average price of $63.11. The company’s market capitalization is $56.91 billion.

American International Group (NYSE:AIG) last issued 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. The company had revenue of $11.23 billion for the quarter, compared to analyst estimates of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same period last year, the company posted $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 declared that its board has initiated a stock buyback program on Wednesday, May 3rd that permits the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 yield of 2.03%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is -711.07%.

TRADEMARK VIOLATION NOTICE: “American International Group, Inc. (AIG) Shares Sold by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.” was posted by Watch List News and is owned by of Watch List News. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.watchlistnews.com/american-international-group-inc-aig-shares-sold-by-mitsubishi-ufj-kokusai-asset-management-co-ltd/1471542.html.

A number of research analysts have weighed in on AIG shares. Credit Suisse Group set a $72.00 target price on American International Group and gave the stock a “buy” rating in a report on Saturday, April 15th. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 target price on shares of American International Group in a report on Monday, April 24th. TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Finally, Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock 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 issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. American International Group currently has a consensus rating of “Buy” and a consensus target price of $69.02.

In other American International Group news, CEO Brian Duperreault acquired 80,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost of $61.48 per share, with a total value of $4,918,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 80,000 shares in the company, valued at approximately $4,918,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company 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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG).

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

Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.