Verdence Capital Advisors LLC Raises Position in American International Group, Inc. (NYSE:AIG)

Verdence Capital Advisors LLC raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,869 shares of the insurance provider’s stock after purchasing an additional 389 shares during the period. Verdence Capital Advisors LLC’s holdings in American International Group were worth $1,698,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in AIG. International Assets Investment Management LLC bought a new position in shares of American International Group during the fourth quarter valued at approximately $26,590,000. CWM LLC increased its stake in shares of American International Group by 2.4% during the fourth quarter. CWM LLC now owns 11,000 shares of the insurance provider’s stock valued at $745,000 after purchasing an additional 260 shares in the last quarter. Duality Advisers LP bought a new stake in shares of American International Group during the fourth quarter valued at approximately $207,000. RWA Wealth Partners LLC increased its position in shares of American International Group by 8.6% during the fourth quarter. RWA Wealth Partners LLC now owns 3,791 shares of the insurance provider’s stock valued at $257,000 after acquiring an additional 300 shares in the last quarter. Finally, Syon Capital LLC increased its position in shares of American International Group by 76.0% during the fourth quarter. Syon Capital LLC now owns 7,165 shares of the insurance provider’s stock valued at $485,000 after acquiring an additional 3,093 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insider Buying and Selling at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the sale, the insider now directly owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 39,964,738 shares of company stock worth $1,132,432,195. Insiders own 0.61% of the company’s stock.

American International Group Stock Down 0.9 %

AIG opened at $74.64 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $49.54 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. The firm’s fifty day moving average is $74.89 and its 200 day moving average is $75.27. American International Group, Inc. has a fifty-two week low of $57.45 and a fifty-two week high of $80.83.

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

American International Group announced that its board has authorized a share repurchase program on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. American International Group’s dividend payout ratio is currently 23.88%.

Analysts Set New Price Targets

Several brokerages recently weighed in on AIG. Morgan Stanley reduced their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. Citigroup cut their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. Finally, Keefe, Bruyette & Woods cut their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. One 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’s stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and a consensus price target of $83.47.

About American International Group

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.