Vanguard Group Inc. Has $3.75 Billion Stake in American International Group, Inc. (AIG)

Vanguard Group Inc. cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,025,234 shares of the insurance provider’s stock after selling 2,230,997 shares during the period. Vanguard Group Inc. owned 6.48% of American International Group worth $3,752,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AIG. Waldron LP bought a new stake in shares of American International Group during the first quarter valued at about $208,000. First Trust Advisors LP increased its position in shares of American International Group by 4.0% during the first quarter. First Trust Advisors LP now owns 133,370 shares of the insurance provider’s stock valued at $8,326,000 after buying an additional 5,086 shares during the period. Toronto Dominion Bank increased its position in shares of American International Group by 57.4% during the first quarter. Toronto Dominion Bank now owns 308,626 shares of the insurance provider’s stock valued at $19,276,000 after buying an additional 112,575 shares during the period. Blue Granite Capital LLC increased its position in shares of American International Group by 11.8% during the first quarter. Blue Granite Capital LLC now owns 38,000 shares of the insurance provider’s stock valued at $2,372,000 after buying an additional 4,000 shares during the period. Finally, ARGA Investment Management LP increased its position in shares of American International Group by 33.0% during the first quarter. ARGA Investment Management LP now owns 27,024 shares of the insurance provider’s stock valued at $1,687,000 after buying an additional 6,700 shares during the period. Hedge funds and other institutional investors own 83.97% of the company’s stock.

AIG has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Wednesday, July 5th. Buckingham Research initiated coverage on shares of American International Group in a research report on Monday, September 11th. They issued an “underperform” rating and a $52.00 price objective on the stock. Royal Bank Of Canada restated a “buy” rating and issued a $73.00 price objective on shares of American International Group in a research report on Wednesday, September 6th. BidaskClub cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Wells Fargo & Company restated a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $67.96.

American International Group, Inc. (NYSE:AIG) traded up 0.61% during mid-day trading on Wednesday, hitting $59.85. The stock had a trading volume of 1,470,430 shares. The stock’s market cap is $54.07 billion. American International Group, Inc. has a 12 month low of $57.35 and a 12 month high of $67.47. The stock’s 50-day moving average price is $61.67 and its 200-day moving average price is $62.35.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business 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 company posted $0.98 EPS. On average, analysts predict that American International Group, Inc. will post $5.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is -711.07%.

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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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