Archon Partners LLC cut its stake in American International Group, Inc. (NYSE:AIG) by 17.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 157,000 shares of the insurance provider’s stock after selling 33,000 shares during the period. American International Group comprises 2.3% of Archon Partners LLC’s holdings, making the stock its 22nd largest position. Archon Partners LLC’s holdings in American International Group were worth $9,816,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of AIG. Israel Discount Bank of New York acquired a new stake in shares of American International Group during the first quarter valued at $145,000. Peddock Capital Advisors LLC boosted its stake in shares of American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the period. Chicago Partners Investment Group LLC boosted its stake 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. boosted its stake 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. Finally, Lincoln National Corp acquired a new stake in shares of American International Group during the first quarter valued at $202,000. Institutional investors and hedge funds own 84.02% of the company’s stock.

Shares of American International Group, Inc. (AIG) opened at 60.66 on Tuesday. The company’s market capitalization is $54.80 billion. American International Group, Inc. has a one year low of $57.35 and a one year high of $67.47. The company’s 50 day moving average is $63.61 and its 200 day moving average is $62.85.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) 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 prior year, the firm earned $0.98 EPS. Equities research analysts predict that American International Group, Inc. will post $5.34 earnings per share for the current year.

The company 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. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.11%. American International Group’s dividend payout ratio (DPR) is -711.07%.

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

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Several analysts have weighed in on the stock. BidaskClub cut shares of American International Group from a “sell” rating to a “strong sell” rating in a research note on Friday. 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 note on Wednesday, August 9th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price objective on shares of American International Group in a research note on Thursday, August 3rd. Deutsche Bank AG reiterated a “sell” rating and issued a $60.00 price objective (up previously from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a research note on Wednesday, July 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average 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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