Pointe Capital Management LLC cut its position in American International Group, Inc. (NYSE:AIG) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 3,999 shares of the insurance provider’s stock after selling 114 shares during the period. Pointe Capital Management LLC’s holdings in American International Group were worth $250,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC raised its position 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 worth $165,000 after buying an additional 14 shares during the last quarter. Lyell Wealth Management LP raised its position in shares of American International Group by 0.5% in the second quarter. Lyell Wealth Management LP now owns 3,606 shares of the insurance provider’s stock worth $225,000 after buying an additional 18 shares during the last quarter. Welch & Forbes LLC raised its position in shares of American International Group by 0.7% in the first quarter. Welch & Forbes LLC now owns 4,502 shares of the insurance provider’s stock worth $281,000 after buying an additional 33 shares during the last quarter. Wetherby Asset Management Inc. raised its position in shares of American International Group by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 16,042 shares of the insurance provider’s stock worth $1,002,000 after buying an additional 62 shares during the last quarter. Finally, Great Lakes Advisors LLC raised its position in shares of American International Group by 1.4% in the first quarter. Great Lakes Advisors LLC now owns 7,079 shares of the insurance provider’s stock worth $442,000 after buying an additional 96 shares during the last quarter. 85.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American International Group, Inc. (AIG) opened at 63.00 on Friday. The stock’s market cap is $56.91 billion. The firm’s 50-day moving average is $64.08 and its 200 day moving average is $63.11. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The firm had revenue of $11.23 billion during 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 in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts predict that American International Group, Inc. will post $5.28 EPS for the current year.

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 paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is presently -711.07%.

American International Group announced that its board has approved a stock buyback plan on Wednesday, May 3rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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A number of equities analysts have recently commented on the stock. Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the stock a “buy” rating in a report on Saturday, April 15th. Deutsche Bank AG reaffirmed a “sell” rating and issued a $60.00 price objective (up previously from $57.00) on shares of American International Group in a research note on Wednesday. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research note on Wednesday, July 5th. BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a research note on Monday. Finally, 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. American International Group has an average rating of “Buy” and a consensus price target of $69.02.

In other news, CEO Brian Duperreault purchased 80,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The stock was acquired at an average cost of $61.48 per share, with a total value of $4,918,400.00. Following the completion of 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 accessible through this hyperlink. 0.52% of the stock is owned by corporate insiders.

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

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