SeaBridge Investment Advisors LLC raised its holdings in American International Group, Inc. (NYSE:AIG) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 33,900 shares of the insurance provider’s stock after acquiring an additional 550 shares during the quarter. SeaBridge Investment Advisors LLC’s holdings in American International Group were worth $1,614,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in AIG. Eudaimonia Partners LLC acquired a new position in shares of American International Group in the 1st quarter valued at $26,000. Massmutual Trust Co. FSB ADV acquired a new position in American International Group in the first quarter valued at about $28,000. Wealthcare Advisory Partners LLC acquired a new position in American International Group in the first quarter valued at about $31,000. Sierra Capital LLC acquired a new position in shares of American International Group during the 1st quarter worth about $33,000. Finally, Pflug Koory LLC bought a new stake in shares of American International Group in the 2nd quarter valued at about $39,000. 89.09% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on AIG shares. Wolfe Research started coverage on shares of American International Group in a report on Monday, August 16th. They set an “outperform” rating and a $63.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of American International Group from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday, August 9th. Wells Fargo & Company lifted their target price on American International Group from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 9th. Morgan Stanley increased their price target on American International Group from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 16th. Finally, TheStreet raised American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, September 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $51.15.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 4th. The insurance provider reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.32. American International Group had a net margin of 9.35% and a return on equity of 5.83%. The company had revenue of $11.99 billion for the quarter, compared to the consensus estimate of $11.56 billion. As a group, equities analysts anticipate that American International Group, Inc. will post 4.92 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Wednesday, September 15th. American International Group’s dividend payout ratio is presently 50.79%.
American International Group declared that its Board of Directors has initiated a share buyback program on Thursday, August 5th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 14.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
American International Group Company Profile
American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.
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