PGGM Investments Purchases 65,050 Shares of American International Group, Inc. (NYSE:AIG)

PGGM Investments lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 46.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 204,969 shares of the insurance provider’s stock after acquiring an additional 65,050 shares during the quarter. PGGM Investments’ holdings in American International Group were worth $15,217,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AIG. Wealth Enhancement Advisory Services LLC lifted its holdings in American International Group by 11.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 31,471 shares of the insurance provider’s stock valued at $2,336,000 after buying an additional 3,162 shares during the period. Diversified Trust Co acquired a new position in shares of American International Group in the 2nd quarter valued at $248,000. Cox Capital Mgt LLC boosted its position in shares of American International Group by 7.7% in the 2nd quarter. Cox Capital Mgt LLC now owns 15,446 shares of the insurance provider’s stock worth $1,147,000 after purchasing an additional 1,104 shares during the last quarter. M&G Plc acquired a new stake in shares of American International Group during the second quarter worth $8,748,000. Finally, Wedmont Private Capital grew its stake in shares of American International Group by 4.6% during the second quarter. Wedmont Private Capital now owns 12,463 shares of the insurance provider’s stock worth $961,000 after purchasing an additional 550 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

AIG has been the subject of several analyst reports. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Citigroup cut their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Evercore ISI lowered their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. Wells Fargo & Company cut their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their price objective on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $83.47.

American International Group Stock Performance

NYSE:AIG traded up $1.28 on Wednesday, hitting $72.91. The company’s stock had a trading volume of 2,228,047 shares, compared to its average volume of 4,222,734. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83. The firm has a market capitalization of $48.39 billion, a P/E ratio of 10.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. The stock has a fifty day moving average of $74.96 and a two-hundred day moving average of $74.95. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.37%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. Research analysts predict that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.19%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

American International Group declared that its board has approved a stock repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the transaction, the insider now directly owns 292,271,027 shares of the company’s stock, valued at $8,534,313,988.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 39,964,738 shares of company stock worth $1,132,432,195 in the last 90 days. Company insiders own 0.61% of the company’s stock.

American International Group Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.