American International Group, Inc. (AIG) Position Raised by Klingenstein Fields & Co. LLC

Xavier Trudeau
Août 3, 2017

Legal & General Group Plc now owns 5,371,867 shares of the insurance provider's stock worth $335,356,000 after buying an additional 57,104 shares in the last quarter.

Want to see what other hedge funds are holding AIG? Welch & Forbes LLC increased its position in shares of American International Group by 0.7% in the first quarter. Pzena Investment Management LLC now owns 6,389,150 shares of the insurance provider's stock worth $398,875,000 after buying an additional 416,152 shares in the last quarter. Pzena Investment Management LLC boosted its position in American International Group by 7.0% in the first quarter. This was higher than $1.31 billion, or $1.15 per share, in last year's second quarter. Feltz Wealth PLAN Inc. acquired a new stake in American International Group during the first quarter valued at approximately $184,000. LLC's holdings in American International Group were worth $10,539,000 at the end of the most recent reporting period.

A former lieutenant of legendary AIG chief Maurice "Hank" Greenberg, Duperreault was appointed following a struggle between his predecessor Peter Hancock and activist investors including Carl Icahn, who had urged the company's board to split it into three new businesses. American International Group's dividend payout ratio (DPR) is presently 412.92%. (AIG) opened at 65.90 on Thursday. Swiss National Bank now owns 3,639,456 shares of the insurance provider's stock worth $227,211,000 after buying an additional 629,400 shares in the last quarter. The stock's 50 day moving average price is $63.89 and its 200-day moving average price is $63.11. The company has a market cap of $60.98 billion, a price-to-earnings ratio of 133.88 and a beta of 1.14.

Expense savings and strong results in its consumer insurance business were the highlights of the second quarter for American International Group Inc. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a return on equity of 5.36% and a net margin of 1.00%. During the same quarter a year ago, the firm posted $0.65 earnings per share. Equities research analysts forecast that American International Group will post $5.02 EPS for the current year.

American International Group announced that its board has authorized a stock repurchase plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the insurance provider to buy up to 4.2% of its stock through open market purchases.

The company also recently disclosed 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. This represents a $1.28 annualized dividend and a dividend yield of 1.94%. Vanguard Group Inc is the second biggest holder with 62 million shares now valued at 3.89 B million whilst Icahn Associates Corp has 46 million shares valued at 2.85 B million. "(AIG) Upgraded to Hold at Zacks Investment Research" was reported by Week Herald and is the sole property of of Week Herald. If you are reading this news story on another publication, it was illegally stolen and republished in violation of worldwide copyright & trademark legislation. The original version of this news story can be read at https://www.chaffeybreeze.com/2017/08/03/re-advisers-corp-has-126318000-position-in-american-international-group-inc-aig-updated.html.

AIG has been the subject of a number of other research reports. Zacks Investment Research raised shares of American International Group from a "sell" rating to a "hold" rating in a research note on Tuesday. American International Group now has an average rating of "Buy" and an average price target of $65.22. Finally, TheStreet raised American International Group from a "c" rating to a "b-" rating in a research report on Wednesday, May 3rd. Wells Fargo & Company restated a "buy" rating on shares of American International Group in a research report on Wednesday, July 5th. Morgan Stanley upgraded shares of American International Group from an "equal weight" rating to an "overweight" rating and lowered their target price for the stock from $62.87 to $61.82 in a report on Tuesday, May 16th.

In other news, CEO Brian Duperreault acquired 80,000 shares of the business's stock in a transaction dated Thursday, May 18th.

Operating income after taxes totaled $1.53 a share in the three months through June, topping the $1.20 average estimate from analysts surveyed by FactSet.

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