Westwood Holdings Group Inc. bought a new position in shares of American International Group Inc (NYSE:AIG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,210,612 shares of the insurance provider’s stock, valued at approximately $64,502,000. Westwood Holdings Group Inc. owned 0.14% of American International Group at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of AIG. First Bank & Trust raised its position in American International Group by 7.6% in the 2nd quarter. First Bank & Trust now owns 3,083 shares of the insurance provider’s stock valued at $164,000 after purchasing an additional 218 shares during the last quarter. OLD National Bancorp IN raised its position in American International Group by 0.9% in the 2nd quarter. OLD National Bancorp IN now owns 24,491 shares of the insurance provider’s stock valued at $1,305,000 after purchasing an additional 230 shares during the last quarter. CIBC Asset Management Inc raised its position in American International Group by 0.3% in the 2nd quarter. CIBC Asset Management Inc now owns 82,798 shares of the insurance provider’s stock valued at $4,411,000 after purchasing an additional 252 shares during the last quarter. National Asset Management Inc. raised its position in American International Group by 3.5% in the 2nd quarter. National Asset Management Inc. now owns 7,627 shares of the insurance provider’s stock valued at $407,000 after purchasing an additional 258 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in American International Group by 2.9% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 9,515 shares of the insurance provider’s stock valued at $507,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.

Shares of NYSE AIG traded down $0.14 during midday trading on Friday, hitting $57.75. The stock had a trading volume of 3,379,492 shares, compared to its average volume of 2,904,157. The company’s 50-day simple moving average is $54.57 and its 200 day simple moving average is $50.93. The firm has a market cap of $49.65 billion, a P/E ratio of 49.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.19. American International Group Inc has a fifty-two week low of $36.16 and a fifty-two week high of $58.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.28 and a quick ratio of 0.28.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, August 7th. The insurance provider reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.26. American International Group had a positive return on equity of 2.97% and a negative net margin of 0.24%. The company had revenue of $12.16 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the firm earned $1.05 EPS. Equities analysts expect that American International Group Inc will post 5.13 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.22%. American International Group’s dividend payout ratio (DPR) is presently 109.40%.

In related news, CEO Seraina Macia sold 7,550 shares of American International Group stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total transaction of $422,800.00. Following the completion of the sale, the chief executive officer now directly owns 11,055 shares of the company’s stock, valued at $619,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by insiders.

Several brokerages have issued reports on AIG. Morgan Stanley reiterated a “buy” rating and issued a $63.00 price objective on shares of American International Group in a research report on Monday, August 12th. Royal Bank of Canada lifted their target price on American International Group to $68.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Evercore ISI reissued a “hold” rating and issued a $53.00 target price on shares of American International Group in a research note on Sunday, August 11th. Wells Fargo & Co reissued a “buy” rating and issued a $64.00 target price on shares of American International Group in a research note on Thursday. Finally, ValuEngine cut American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $57.18.

American International Group Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

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

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