Private Bank & Trust Co. raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,144 shares of the insurance provider’s stock after buying an additional 308 shares during the period. Private Bank & Trust Co.’s holdings in American International Group were worth $822,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in AIG. Old Mutual Global Investors UK Ltd. boosted its stake in shares of American International Group by 450.2% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 2,166,582 shares of the insurance provider’s stock valued at $135,259,000 after buying an additional 1,772,801 shares during the last quarter. Orbis Allan Gray Ltd boosted its stake in shares of American International Group by 74.5% in the fourth quarter. Orbis Allan Gray Ltd now owns 3,446,372 shares of the insurance provider’s stock valued at $225,083,000 after buying an additional 1,471,384 shares during the last quarter. TD Asset Management Inc. boosted its stake in shares of American International Group by 49.4% in the first quarter. TD Asset Management Inc. now owns 3,245,019 shares of the insurance provider’s stock valued at $202,587,000 after buying an additional 1,073,157 shares during the last quarter. Swiss National Bank boosted its stake 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 during the last quarter. Finally, Epoch Investment Partners Inc. boosted its stake 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 during the last quarter. 86.18% of the stock is currently owned by institutional investors.

Shares of American International Group, Inc. (AIG) traded up 0.09% during trading on Monday, hitting $64.26. The stock had a trading volume of 785,876 shares. The company has a market cap of $59.49 billion, a PE ratio of 130.61 and a beta of 1.13. The firm’s 50 day moving average is $63.59 and its 200 day moving average is $63.21. American International Group, Inc. has a 1-year low of $53.93 and a 1-year high of $67.47.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $11.31 billion for the quarter, compared to the consensus estimate of $11 billion. During the same quarter last year, the business posted $0.65 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post $5.02 EPS for the current fiscal year.

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

American International Group announced that its board has initiated a stock buyback program on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: This report was first reported by Daily Political and is the sole property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of United States and international copyright laws. The original version of this report can be viewed at https://www.dailypolitical.com/2017/07/24/american-international-group-inc-nyseaig-shares-bought-by-private-bank-trust-co.html.

A number of brokerages have recently commented on AIG. 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 report on Tuesday, May 16th. Credit Suisse Group set a $72.00 target price on American International Group and gave the company 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 on the stock in a research report on Wednesday, July 5th. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research report on Wednesday, April 12th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $71.00 price target on shares of American International Group in a research report on Monday, April 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.15.

In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were bought at an average cost 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 of the company’s stock, valued at $4,918,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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)

Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.