Verum Partners LLC Takes $227,000 Position in American International Group, Inc. (NYSE:AIG)

Verum Partners LLC acquired a new stake in shares of American International Group, Inc. (NYSE:AIG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,902 shares of the insurance provider’s stock, valued at approximately $227,000.

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its stake in American International Group by 18.7% in the fourth quarter. Nordea Investment Management AB now owns 2,032,907 shares of the insurance provider’s stock worth $138,014,000 after buying an additional 319,948 shares in the last quarter. American Century Companies Inc. grew its holdings in American International Group by 22.6% in the third quarter. American Century Companies Inc. now owns 422,852 shares of the insurance provider’s stock worth $25,625,000 after purchasing an additional 77,874 shares during the period. Essex Financial Services Inc. purchased a new stake in American International Group in the fourth quarter worth about $260,000. TCW Group Inc. purchased a new stake in American International Group in the fourth quarter worth about $724,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in American International Group in the fourth quarter worth about $948,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AIG shares. Wells Fargo & Company increased their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. JPMorgan Chase & Co. increased their price target on shares of American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Citigroup increased their price target on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. Finally, Evercore ISI dropped their target price on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and an average target price of $81.38.

American International Group Trading Up 1.2 %

AIG traded up $0.86 on Tuesday, reaching $75.35. 3,778,740 shares of the company traded hands, compared to its average volume of 4,148,845. American International Group, Inc. has a one year low of $56.88 and a one year high of $80.83. The firm has a fifty day simple moving average of $76.74 and a two-hundred day simple moving average of $73.35. The company has a market cap of $50.01 billion, a P/E ratio of 11.24, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the previous year, the business posted $1.63 EPS. As a group, equities research analysts expect that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, June 14th. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s payout ratio is 23.88%.

American International Group announced that its board has approved a stock buyback plan on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the sale, the insider now owns 292,271,027 shares of the company’s stock, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

American International Group Company Profile

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.