Spindletop Capital Lowers stake in American International Group Inc (AIG)

American International Group Inc (AIG) : Spindletop Capital reduced its stake in American International Group Inc by 21.13% during the most recent quarter end. The investment management company now holds a total of 280,000 shares of American International Group Inc which is valued at $15.6 Million after selling 75,000 shares in American International Group Inc , the firm said in a disclosure report filed with the SEC on May 13, 2016.American International Group Inc makes up approximately 14.12% of Spindletop Capital’s portfolio.

Other Hedge Funds, Including , Susquehanna International Group Llp reduced its stake in AIG by selling 1,043,358 shares or 68.43% in the most recent quarter. The Hedge Fund company now holds 481,245 shares of AIG which is valued at $26.8 Million. American International Group Inc makes up approx 0.08% of Susquehanna International Group Llp’s portfolio. 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.Contrarius Investment Management Ltd boosted its stake in AIG in the latest quarter, The investment management firm added 32,858 additional shares and now holds a total of 117,852 shares of American International Group Inc which is valued at $6.6 Million. American International Group Inc makes up approx 0.57% of Contrarius Investment Management Ltd’s portfolio. Lakeview Capital Partners sold out all of its stake in AIG during the most recent quarter. The investment firm sold 3,617 shares of AIG which is valued $199,080.State Of New Jersey Common Pension Fund D reduced its stake in AIG by selling 200,000 shares or 12.97% in the most recent quarter. The Hedge Fund company now holds 1,342,000 shares of AIG which is valued at $74.9 Million. American International Group Inc makes up approx 0.34% of State Of New Jersey Common Pension Fund D’s portfolio.

American International Group Inc opened for trading at $57.82 and hit $58.36 on the upside on Wednesday, eventually ending the session at $58.05, with a gain of 0.61% or 0.35 points. The heightened volatility saw the trading volume jump to 51,49,086 shares. Company has a market cap of $64,960 M.

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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