Harris Associates L P Lowers stake in American International Group Inc (AIG)

American International Group Inc (AIG) : Harris Associates L P reduced its stake in American International Group Inc by 7.96% during the most recent quarter end. The investment management company now holds a total of 35,326,117 shares of American International Group Inc which is valued at $1,966.3 Million after selling 3,056,132 shares in American International Group Inc , the firm said in a disclosure report filed with the SEC on May 11, 2016.American International Group Inc makes up approximately 3.76% of Harris Associates L P’s portfolio.

Other Hedge Funds, Including , Summit Securities Group sold out all of its stake in AIG during the most recent quarter. The investment firm sold 79,700 shares of AIG which is valued $4.4 Million.Utah Retirement Systems reduced its stake in AIG by selling 11,500 shares or 5.18% in the most recent quarter. The Hedge Fund company now holds 210,363 shares of AIG which is valued at $11.7 Million. American International Group Inc makes up approx 0.32% of Utah Retirement Systems’s portfolio.Gabelli Funds reduced its stake in AIG by selling 20,000 shares or 1.57% in the most recent quarter. The Hedge Fund company now holds 1,253,500 shares of AIG which is valued at $69 Million. American International Group Inc makes up approx 0.42% of Gabelli Funds’s portfolio.Smith Asset Management Group Lp reduced its stake in AIG by selling 100 shares or 7.05% in the most recent quarter. The Hedge Fund company now holds 1,319 shares of AIG which is valued at $72,598.

American International Group Inc closed down -0.38 points or -0.68% at $55.28 with 64,19,498 shares getting traded on Monday. Post opening the session at $55.45, the shares hit an intraday low of $55.24 and an intraday high of $55.9 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, American International Group Inc reported $0.65 EPS for the quarter, missing the analyst consensus estimate by $ -0.35 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $1.00.Analysts expectations of $ 13749.00.During the same quarter in the previous year, the company posted $1.22 EPS.

Investors should note that on May 2, 2016, American International Group Inc announced a cash dividend of $0.3200. The company’s management has announced Jun 9, 2016 as the ex-dividend date and fixed the record date on Jun 13, 2016. The payable date has been fixed on Jun 27, 2016.

Many Wall Street Analysts have commented on American International Group Inc. American International Group Inc was Upgraded by Wells Fargo to ” Outperform” on May 17, 2016. Shares were Reiterated by FBR Capital on May 10, 2016 to “Mkt Perform” and Lowered the Price Target to $ 53 from a previous price target of $56 .American International Group Inc was Resumed by Morgan Stanley to “Equal-Weight” on May 5, 2016.

American International Group Inc. (AIG) is an insurance company. The Company provides a range of property casualty insurance life insurance retirement products mortgage insurance and other financial services. Its various offerings include products and services that help businesses and individuals protect their assets manage risks and provide for retirement security. The Company’s AIG Global Benefits Network provides administrative and marketing services to insurance companies offering benefit solutions to multinational employers. AIG Global Benefits Network can develop global benefit plan solutions for multinational clients by tapping the coverage options offered by carriers throughout the network. AIG operates through two segments: Commercial Insurance and Consumer Insurance. Commercial Insurance is a provider of insurance products and services for commercial and institutional customers.

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