State of Alaska Department of Revenue raised its position in shares of American International Group, Inc. (NYSE:AIG) by 13.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,322 shares of the insurance provider’s stock after buying an additional 960 shares during the period. State of Alaska Department of Revenue’s holdings in American International Group were worth $520,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Kentucky Retirement Systems purchased a new position in American International Group during the fourth quarter valued at $4,624,000. Sigma Planning Corp increased its position in 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. Wealthfront Inc. increased its position in American International Group by 38.3% in the fourth quarter. Wealthfront Inc. now owns 16,873 shares of the insurance provider’s stock valued at $1,102,000 after buying an additional 4,670 shares during the last quarter. Blue Granite Capital LLC increased its position in 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. Finally, Macquarie Group Ltd. increased its position in 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. Hedge funds and other institutional investors own 86.16% of the company’s stock.

Shares of American International Group, Inc. (NYSE:AIG) opened at 64.20 on Friday. The firm has a 50 day moving average price of $63.59 and a 200 day moving average price of $63.21. The stock has a market cap of $59.43 billion, a PE ratio of 130.49 and a beta of 1.13. American International Group, Inc. has a 12-month low of $53.93 and a 12-month high of $67.47.

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

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 14th were paid 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 of this dividend was Monday, June 12th. American International Group’s dividend payout ratio (DPR) is 412.92%.

American International Group declared that its board has authorized a share repurchase program on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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AIG has been the subject of several research reports. Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $62.87 to $61.82 in a research note on Tuesday, May 16th. Credit Suisse Group set a $72.00 price target on American International Group and gave the stock a “buy” rating in a research note on Saturday, April 15th. Zacks Investment Research upgraded American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research note on Wednesday, July 5th. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research note on Wednesday, April 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 price target on shares of American International Group in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $65.15.

In other American International Group news, CEO Brian Duperreault acquired 80,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $61.48 per share, with a total value of $4,918,400.00. Following the completion of the purchase, 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 filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

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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