Fernwood Investment Management LLC maintained its position in American International Group, Inc. (NYSE:AIG) during the second quarter, Holdings Channel reports. The firm owned 6,970 shares of the insurance provider’s stock at the end of the second quarter. Fernwood Investment Management LLC’s holdings in American International Group were worth $436,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC boosted its stake 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 valued at $165,000 after buying an additional 14 shares during the period. Lyell Wealth Management LP boosted its stake in American International Group by 0.5% in the second quarter. Lyell Wealth Management LP now owns 3,606 shares of the insurance provider’s stock valued at $225,000 after buying an additional 18 shares during the period. Welch & Forbes LLC boosted its stake in American International Group by 0.7% in the first quarter. Welch & Forbes LLC now owns 4,502 shares of the insurance provider’s stock valued at $281,000 after buying an additional 33 shares during the period. Wetherby Asset Management Inc. boosted its stake in American International Group by 0.4% in the first quarter. Wetherby Asset Management Inc. now owns 16,042 shares of the insurance provider’s stock valued at $1,002,000 after buying an additional 62 shares during the period. Finally, Great Lakes Advisors LLC boosted its stake in American International Group by 1.4% in the first quarter. Great Lakes Advisors LLC now owns 7,079 shares of the insurance provider’s stock valued at $442,000 after buying an additional 96 shares during the period. 87.76% of the stock is owned by institutional investors and hedge funds.

Shares of American International Group, Inc. (NYSE:AIG) opened at 62.97 on Thursday. American International Group, Inc. has a one year low of $57.35 and a one year high of $67.47. The stock has a 50 day moving average of $64.05 and a 200-day moving average of $63.01. The stock’s market capitalization is $56.89 billion.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same period last year, the firm posted $0.98 EPS. Equities analysts predict that American International Group, Inc. will post $5.28 earnings per share for the current fiscal year.

American International Group declared that its board has initiated a share 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 repurchase up to 4.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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

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Several research firms have recently issued reports on AIG. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. BidaskClub raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price objective (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price objective on shares of American International Group in a research report on Thursday, August 3rd. Finally, Atlantic Securities cut shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. American International Group currently has an average rating of “Buy” and a consensus price target of $69.02.

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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