Hodges Capital Management Inc. maintained its stake in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, Holdings Channel reports. The firm owned 5,000 shares of the insurance provider’s stock at the end of the second quarter. Hodges Capital Management Inc.’s holdings in American International Group were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Sigma Planning Corp boosted its stake in shares of American International Group by 15.6% in the first quarter. Sigma Planning Corp now owns 3,680 shares of the insurance provider’s stock valued at $230,000 after buying an additional 496 shares during the last quarter. Blue Granite Capital LLC boosted its stake in shares of American International Group by 11.8% in the first quarter. Blue Granite Capital LLC now owns 38,000 shares of the insurance provider’s stock valued at $2,372,000 after buying an additional 4,000 shares during the last quarter. Macquarie Group Ltd. boosted 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 last quarter. Bank of Nova Scotia boosted its stake in shares of American International Group by 868.2% in the first quarter. Bank of Nova Scotia now owns 213,547 shares of the insurance provider’s stock valued at $13,332,000 after buying an additional 191,490 shares during the last quarter. Finally, FTB Advisors Inc. boosted its stake in shares of 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 during the last quarter. Institutional investors and hedge funds own 85.88% of the company’s stock.

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

American International Group (NYSE:AIG) last released its 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. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The company had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities analysts forecast that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is currently -711.07%.

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AIG has been the subject of several 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 cut shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research note on Thursday, April 20th. Zacks Investment Research cut shares of American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Morgan Stanley upgraded shares of American International Group from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $62.87 to $61.82 in a research note on Tuesday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $69.02.

In other American International Group news, CEO Brian Duperreault bought 80,000 shares of American International Group stock in a transaction on Thursday, May 18th. The stock was bought at an average price 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 owns 80,000 shares in the company, valued at $4,918,400. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by company insiders.

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

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