Lloyds Banking Group plc cut its position in shares of American International Group, Inc. (NYSE:AIG) by 0.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,640 shares of the insurance provider’s stock after selling 2 shares during the period. American International Group accounts for 1.6% of Lloyds Banking Group plc’s investment portfolio, making the stock its 27th largest position. Lloyds Banking Group plc’s holdings in American International Group were worth $165,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in shares of 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. Eastern Bank boosted its position in shares of American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock valued at $451,000 after buying an additional 210 shares during the last quarter. Regent Investment Management LLC boosted its position in shares of American International Group by 27.5% in the first quarter. Regent Investment Management LLC now owns 23,285 shares of the insurance provider’s stock valued at $1,454,000 after buying an additional 5,025 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of American International Group by 37.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 55,497 shares of the insurance provider’s stock valued at $3,424,000 after buying an additional 15,007 shares during the last quarter. Finally, Benson Investment Management Company Inc. purchased a new position in shares of American International Group during the first quarter valued at about $2,298,000. Institutional investors own 87.76% of the company’s stock.

American International Group, Inc. (AIG) opened at 62.65 on Monday. The firm’s 50-day moving average price is $64.07 and its 200-day moving average price is $63.09. American International Group, Inc. has a 1-year low of $57.35 and a 1-year high of $67.47. The firm’s market cap is $56.60 billion.

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

The firm also recently disclosed 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 2.04%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is -711.07%.

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

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AIG has been the subject of several recent research reports. Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $71.00 price target on shares of American International Group in a research report on Monday, April 24th. TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Morgan Stanley upgraded American International Group from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $62.87 to $61.82 in a research report on Tuesday, May 16th. Finally, 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 report on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $69.02.

In other American International Group news, CEO Brian Duperreault acquired 80,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the acquisition, 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 legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is owned by company insiders.

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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