NJ State Employees Deferred Compensation Plan maintained its position in American International Group, Inc. (NYSE:AIG) during the second quarter, Holdings Channel reports. The firm owned 5,500 shares of the insurance provider’s stock at the end of the second quarter. NJ State Employees Deferred Compensation Plan’s holdings in American International Group were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC raised its position in shares of 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 valued at $484,073,000 after buying an additional 116,955 shares in the last quarter. Pzena Investment Management LLC raised its position in shares of 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 valued at $398,875,000 after buying an additional 416,152 shares in the last quarter. Legal & General Group Plc raised its position in shares of 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 valued at $335,356,000 after buying an additional 57,104 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of American International Group by 12.3% in the first quarter. Epoch Investment Partners Inc. now owns 4,342,201 shares of the insurance provider’s stock valued at $271,084,000 after buying an additional 474,434 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of American International Group by 20.9% in the first quarter. Swiss National Bank now owns 3,639,456 shares of the insurance provider’s stock valued at $227,211,000 after buying an additional 629,400 shares in the last quarter. 85.88% of the stock is owned by institutional investors and hedge funds.

American International Group, Inc. (AIG) opened at 64.01 on Thursday. The stock has a market capitalization of $59.26 billion, a P/E ratio of 130.10 and a beta of 1.14. The stock has a 50 day moving average price of $64.09 and a 200-day moving average price of $63.11. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that American International Group, Inc. will post $5.19 EPS for the current year.

American International Group declared that its board has authorized a stock 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 reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.00%. American International Group’s dividend payout ratio (DPR) is presently -711.07%.

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A number of research analysts recently weighed in on the company. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. BidaskClub lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. Finally, Zacks Investment Research lowered American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $69.02.

In related news, CEO Brian Duperreault purchased 80,000 shares of American International Group stock in a transaction that occurred on Thursday, May 18th. The stock was purchased 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 directly owns 80,000 shares in the company, valued at $4,918,400. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 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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