DekaBank Deutsche Girozentrale raised its position in shares of American International Group, Inc. (NYSE:AIG) by 4.4% during the second quarter, Holdings Channel reports. The fund owned 372,435 shares of the insurance provider’s stock after buying an additional 15,867 shares during the period. DekaBank Deutsche Girozentrale’s holdings in American International Group were worth $23,799,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AIG. Boston Partners raised its stake in American International Group by 262.4% in the second quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after buying an additional 4,968,504 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in 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 worth $135,259,000 after buying an additional 1,772,801 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in American International Group by 12.6% in the second quarter. Canada Pension Plan Investment Board now owns 11,631,827 shares of the insurance provider’s stock worth $727,222,000 after buying an additional 1,300,900 shares during the last quarter. TD Asset Management Inc. raised its stake in 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 worth $202,587,000 after buying an additional 1,073,157 shares during the last quarter. Finally, Swiss National Bank raised its stake in 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 worth $227,211,000 after buying an additional 629,400 shares during the last quarter. Institutional investors own 85.88% of the company’s stock.

American International Group, Inc. (AIG) opened at 62.65 on Friday. The firm’s 50-day moving average is $64.07 and its 200 day moving average is $63.09. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47. The firm’s market capitalization is $56.60 billion.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.61 billion. During the same period in the previous year, the business earned $0.98 EPS. Equities analysts anticipate that American International Group, Inc. will post $5.28 EPS for the current year.

American International Group announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 2.04%. American International Group’s payout ratio is currently -711.07%.

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A number of equities analysts have recently weighed in on the stock. Morgan Stanley raised shares of American International Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $62.87 to $61.82 in a research note on Tuesday, May 16th. Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Wednesday, July 5th. TheStreet raised shares of 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 Thursday, April 20th. Finally, Credit Suisse Group set a $72.00 price target on shares of 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 issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $69.02.

In other American International Group news, CEO Brian Duperreault purchased 80,000 shares of the stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the purchase, the chief executive officer now owns 80,000 shares of the company’s stock, valued at $4,918,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.52% of the stock is currently owned by insiders.

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.

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

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