Birinyi Associates Inc. continued to hold its position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the insurance provider’s stock at the end of the second quarter. Birinyi Associates Inc.’s holdings in American International Group were worth $269,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AIG. Israel Discount Bank of New York purchased a new stake in American International Group during the first quarter valued at about $145,000. Peddock Capital Advisors LLC raised its stake in American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares in the last quarter. Chicago Partners Investment Group LLC raised its stake in 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 valued at $165,000 after buying an additional 14 shares in the last quarter. FTB Advisors Inc. raised its stake in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares in the last quarter. Finally, Lincoln National Corp purchased a new stake in American International Group during the first quarter valued at about $202,000. 84.02% of the stock is currently owned by institutional investors.

Shares of American International Group, Inc. (NYSE AIG) opened at 60.22 on Tuesday. 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 $63.61 and a 200 day moving average price of $62.85. The stock’s market capitalization is $54.40 billion.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, beating analysts’ consensus estimates 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 business earned $0.98 EPS. Analysts forecast that American International Group, Inc. will post $5.34 earnings per share for the current fiscal year.

American International Group announced that its board has initiated a share repurchase program 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 programs are often a sign that the company’s board believes its stock is undervalued.

The business 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 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.

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Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods reissued a “buy” rating and set a $75.00 price target on shares of American International Group in a research report on Thursday, August 3rd. Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. BidaskClub upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Deutsche Bank AG restated a “sell” rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Finally, Atlantic Securities downgraded 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, August 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. American International Group has an average rating of “Buy” and an average 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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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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