Rafferty Asset Management Lowers stake in American International Group Inc (AIG)

American International Group Inc (AIG) : Rafferty Asset Management reduced its stake in American International Group Inc by 25.98% during the most recent quarter end. The investment management company now holds a total of 130,327 shares of American International Group Inc which is valued at $7,712,752 after selling 45,746 shares in American International Group Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.American International Group Inc makes up approximately 0.49% of Rafferty Asset Management’s portfolio.

Other Hedge Funds, Including , First Pacific Advisors boosted its stake in AIG in the latest quarter, The investment management firm added 1,530,440 additional shares and now holds a total of 12,441,990 shares of American International Group Inc which is valued at $736,316,968. American International Group Inc makes up approx 5.79% of First Pacific Advisors’s portfolio.New Mexico Educational Retirement Board reduced its stake in AIG by selling 6,500 shares or 4.75% in the most recent quarter. The Hedge Fund company now holds 130,405 shares of AIG which is valued at $7,576,531. American International Group Inc makes up approx 0.33% of New Mexico Educational Retirement Board’s portfolio.Obermeyer Wood Investment Counsel Lllp reduced its stake in AIG by selling 1,730 shares or 15.37% in the most recent quarter. The Hedge Fund company now holds 9,525 shares of AIG which is valued at $553,403. American International Group Inc makes up approx 0.05% of Obermeyer Wood Investment Counsel Lllp’s portfolio.Checchi Capital Advisers reduced its stake in AIG by selling 1,089 shares or 8.95% in the most recent quarter. The Hedge Fund company now holds 11,081 shares of AIG which is valued at $605,244. American International Group Inc makes up approx 0.15% of Checchi Capital Advisers’s portfolio.

American International Group Inc closed down -0.28 points or -0.47% at $59.03 with 41,46,084 shares getting traded on Wednesday. Post opening the session at $59.26, the shares hit an intraday low of $58.94 and an intraday high of $59.4 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, American International Group Inc reported $0.98 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.94.Analysts expectations of $ 13096.15.During the same quarter in the previous year, the company posted $1.39 EPS.

Investors should note that on Aug 2, 2016, American International Group Inc announced a cash dividend of $0.3200. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Sep 29, 2016.

Many Wall Street Analysts have commented on American International Group Inc. Company shares were Reiterated by Deutsche Bank on Aug 11, 2016 to “Hold”, Firm has raised the Price Target to $ 61 from a previous price target of $59 .Company shares were Reiterated by Deutsche Bank on Aug 3, 2016 to “Hold”, Firm has raised the Price Target to $ 59 from a previous price target of $58 .American International Group Inc was Upgraded by Wells Fargo to ” Outperform” on May 17, 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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