Rehmann Capital Advisory Group cut its stake in American International Group, Inc. (NYSE:AIG) by 63.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,588 shares of the insurance provider’s stock after selling 6,192 shares during the period. Rehmann Capital Advisory Group’s holdings in American International Group were worth $224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 during the period. Lyell Wealth Management LP raised its stake in American International Group by 0.5% in the first quarter. Lyell Wealth Management LP now owns 3,588 shares of the insurance provider’s stock valued at $224,000 after buying an additional 19 shares during the period. Welch & Forbes LLC raised its stake in American International Group by 0.7% in the first quarter. Welch & Forbes LLC now owns 4,502 shares of the insurance provider’s stock valued at $281,000 after buying an additional 33 shares during the period. Wetherby Asset Management Inc. raised its stake in 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 valued at $1,002,000 after buying an additional 62 shares during the period. Finally, Great Lakes Advisors LLC raised its stake in 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 valued at $442,000 after buying an additional 96 shares during the period. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Shares of American International Group, Inc. (AIG) traded down 0.226% during mid-day trading on Thursday, hitting $64.045. The stock had a trading volume of 646,498 shares. American International Group, Inc. has a 52-week low of $53.93 and a 52-week high of $67.47. The stock has a 50 day moving average price of $63.57 and a 200-day moving average price of $63.20. The company has a market cap of $59.29 billion, a PE ratio of 130.173 and a beta of 1.13.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.25. The business had revenue of $11.31 billion for the quarter, compared to analysts’ expectations of $11 billion. American International Group had a return on equity of 5.36% and a net margin of 1.00%. During the same quarter in the prior year, the firm posted $0.65 EPS. On average, equities analysts expect that American International Group, Inc. will post $5.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Monday, June 12th. American International Group’s dividend payout ratio is currently 412.92%.

American International Group announced that its board has authorized a share repurchase 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 buy up to 4.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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Several research firms recently commented on AIG. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a report on Wednesday, July 5th. 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. J P Morgan Chase & Co dropped their target price on American International Group from $69.00 to $65.00 and set a “neutral” rating on the stock in a report on Monday, April 3rd. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, July 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of American International Group in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. American International Group has an average rating of “Buy” and a consensus target price of $65.15.

In other news, CEO Brian Duperreault purchased 80,000 shares of the stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the acquisition, the chief executive officer now directly owns 80,000 shares in the company, valued at approximately $4,918,400. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

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.

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

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