Principal Financial Group Inc. lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,278,769 shares of the insurance provider’s stock after selling 36,137 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of American International Group worth $79,948,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Israel Discount Bank of New York acquired a new position in shares of American International Group during the first quarter worth about $145,000. Peddock Capital Advisors LLC increased its position 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 worth $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC increased 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 worth $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased 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 worth $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Lincoln National Corp acquired a new position in shares of American International Group during the first quarter worth about $202,000. 84.02% of the stock is currently owned by hedge funds and other institutional investors.

Shares of American International Group, Inc. (NYSE:AIG) opened at 60.70 on Friday. The stock’s market cap is $54.84 billion. The company’s 50 day moving average price is $63.21 and its 200 day moving average price is $62.67. American International Group, Inc. has a 52-week low of $57.35 and a 52-week high of $67.47.

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, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.33. The business had revenue of $11.23 billion during 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 quarter in the previous year, the firm posted $0.98 EPS. On average, analysts anticipate that American International Group, Inc. will post $5.34 earnings per share for the current year.

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 $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a yield of 2.11%. American International Group’s payout ratio is -711.07%.

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A number of brokerages have recently issued reports on AIG. Deutsche Bank AG reaffirmed a “sell” rating and set a $60.00 price target (up from $57.00) on shares of American International Group in a report on Wednesday, August 9th. Atlantic Securities downgraded American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Wednesday, August 9th. BidaskClub downgraded American International Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 price target on shares of American International Group in a report on Thursday, August 3rd. Finally, Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price 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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