Everence Capital Management Inc. increased its stake in American International Group, Inc. (NYSE:AIG) by 12.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,607 shares of the insurance provider’s stock after buying an additional 2,750 shares during the period. Everence Capital Management Inc.’s holdings in American International Group were worth $1,538,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AIG. Israel Discount Bank of New York bought a new position in shares of American International Group during the first quarter valued at about $145,000. Chicago Partners Investment Group LLC raised its position in shares of 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. FTB Advisors Inc. raised its position in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the period. Lincoln National Corp bought a new position in shares of American International Group during the first quarter valued at about $202,000. Finally, Signaturefd LLC bought a new position in shares of American International Group during the first quarter valued at about $202,000. Institutional investors own 87.76% of the company’s stock.

American International Group, Inc. (NYSE AIG) traded down 0.54% during trading on Friday, reaching $61.34. 4,494,724 shares of the company were exchanged. The stock’s market capitalization is $55.41 billion. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The company’s 50-day moving average price is $63.93 and its 200-day moving average price is $62.98. American International Group also saw some unusual options trading activity on Wednesday. Stock traders purchased 12,371 call options on the stock. This is an increase of 249% compared to the typical volume of 3,541 call options.

American International Group (NYSE:AIG) last released its quarterly earnings data 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. The company had revenue of $11.23 billion during the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. During the same period in the previous year, the company earned $0.98 EPS. On average, equities analysts forecast that American International Group, Inc. will post $5.28 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a $0.32 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 2.09%. American International Group’s dividend payout ratio (DPR) is -711.07%.

American International Group announced that its board has initiated a stock repurchase plan on Wednesday, May 3rd that authorizes the company to repurchase $2.50 billion in shares. This repurchase authorization authorizes the insurance provider to repurchase up to 4.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: This report was published by Daily Political and is the sole property of of Daily Political. If you are viewing this report on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The original version of this report can be read at https://www.dailypolitical.com/2017/08/19/everence-capital-management-inc-boosts-stake-in-american-international-group-inc-aig.html.

Several brokerages recently issued reports on AIG. Deutsche Bank AG reiterated a “sell” rating and issued a $60.00 target price (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Atlantic Securities lowered shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 target price for the company. in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 target price on shares of American International Group in a research report on Thursday, August 3rd. Finally, BidaskClub lowered shares of American International Group from a “hold” rating to a “sell” rating in a research report on Sunday, August 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. American International Group currently has an average rating of “Buy” and an average target price of $69.02.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG).

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.