Teacher Retirement System of Texas reduced its position in American International Group, Inc. (NYSE:AIG) by 27.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,487 shares of the insurance provider’s stock after selling 236,551 shares during the period. Teacher Retirement System of Texas’ holdings in American International Group were worth $39,481,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Israel Discount Bank of New York acquired a new position in American International Group during the first quarter worth $145,000. Chicago Partners Investment Group LLC raised its position 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 worth $165,000 after buying an additional 14 shares during the period. FTB Advisors Inc. raised its position in American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,711 shares during the period. Feltz Wealth PLAN Inc. acquired a new position in American International Group during the first quarter worth $184,000. Finally, Lincoln National Corp acquired a new position in American International Group during the first quarter worth $202,000. 85.88% of the stock is owned by hedge funds and other institutional investors.

Shares of American International Group, Inc. (NYSE:AIG) opened at 63.00 on Friday. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The company’s market capitalization is $56.91 billion. The stock has a 50 day moving average price of $64.08 and a 200 day moving average price of $63.11.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period in the previous year, the firm posted $0.98 EPS. On average, equities analysts anticipate that American International Group, Inc. will post $5.28 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.

American International Group declared that its Board of Directors has authorized a stock buyback program on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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AIG has been the subject of a number of recent analyst reports. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research note on Wednesday, July 5th. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research note on Monday, April 24th. Finally, Credit Suisse Group set a $72.00 price objective on American International Group and gave the stock a “buy” rating in a research note on Saturday, April 15th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. American International Group presently has a consensus rating of “Buy” and a consensus price target of $69.02.

In related news, CEO Brian Duperreault bought 80,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were acquired at an average cost 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 document filed with the SEC, which can be accessed through this hyperlink. 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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