Alliancebernstein buys $591,166,140 stake in American International Group Inc (AIG)

American International Group Inc (AIG) : Alliancebernstein scooped up 1,159,555 additional shares in American International Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 10,045,304 shares of American International Group Inc which is valued at $591,166,140.American International Group Inc makes up approximately 0.49% of Alliancebernstein’s portfolio.

Other Hedge Funds, Including , Washington Trust Co reduced its stake in AIG by selling 9,567 shares or 2.48% in the most recent quarter. The Hedge Fund company now holds 376,679 shares of AIG which is valued at $22,167,559. American International Group Inc makes up approx 1.43% of Washington Trust Co’s portfolio.Carroll Financial Associates reduced its stake in AIG by selling 5 shares or 1.04% in the most recent quarter. The Hedge Fund company now holds 474 shares of AIG which is valued at $25,866.Ferguson Wellman Capital Management Inc reduced its stake in AIG by selling 525,228 shares or 96.93% in the most recent quarter. The Hedge Fund company now holds 16,611 shares of AIG which is valued at $906,296. American International Group Inc makes up approx 0.04% of Ferguson Wellman Capital Management Inc’s portfolio.Sumitomo Life Insurance Co reduced its stake in AIG by selling 24,436 shares or 32.03% in the most recent quarter. The Hedge Fund company now holds 51,848 shares of AIG which is valued at $2,828,827. American International Group Inc makes up approx 0.38% of Sumitomo Life Insurance Co’s portfolio.

American International Group Inc opened for trading at $59.25 and hit $59.35 on the upside on Tuesday, eventually ending the session at $59.02, with a gain of 0.05% or 0.03 points. The heightened volatility saw the trading volume jump to 40,52,471 shares. Company has a market cap of $63,190 M.

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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