ARGA Investment Management LP raised its stake in shares of American International Group, Inc. (NYSE:AIG) by 64.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,524 shares of the insurance provider’s stock after buying an additional 17,500 shares during the period. ARGA Investment Management LP’s holdings in American International Group were worth $2,784,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. 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 in the last quarter. 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 in the last quarter. First Personal Financial Services boosted its stake in American International Group by 0.6% in the second quarter. First Personal Financial Services now owns 6,256 shares of the insurance provider’s stock valued at $391,000 after buying an additional 38 shares in the last quarter. Usca Ria LLC boosted its stake in American International Group by 0.4% in the second quarter. Usca Ria LLC now owns 11,505 shares of the insurance provider’s stock valued at $719,000 after buying an additional 50 shares in the last quarter. Finally, 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 in the last quarter. 84.02% of the stock is owned by institutional investors.

American International Group, Inc. (NYSE AIG) traded up 0.091% on Thursday, reaching $60.255. The company’s stock had a trading volume of 236,222 shares. The company’s market cap is $54.43 billion. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47. The company has a 50-day moving average price of $63.61 and a 200 day moving average price of $62.85.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, equities research analysts anticipate that American International Group, Inc. will post $5.34 EPS for the current fiscal year.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 dividend on an annualized basis and a yield of 2.13%. American International Group’s dividend payout ratio is presently -711.07%.

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Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reissued a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. BidaskClub raised American International Group from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Deutsche Bank AG restated a “sell” rating and issued a $60.00 target price (up from $57.00) on shares of American International Group in a research note on Wednesday, August 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $75.00 target price on shares of American International Group in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. American International Group presently has a consensus 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.

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

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