American International Group, Inc. (NYSE:AIG) Stock Position Raised by New Vernon Investment Management LLC

New Vernon Investment Management LLC boosted its stake in American International Group, Inc. (NYSE:AIG) by 92.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,312 shares of the insurance provider’s stock after purchasing an additional 41,946 shares during the quarter. American International Group comprises approximately 6.9% of New Vernon Investment Management LLC’s portfolio, making the stock its 5th biggest holding. New Vernon Investment Management LLC’s holdings in American International Group were worth $6,394,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in shares of American International Group during the third quarter worth approximately $26,000. Fortitude Family Office LLC raised its stake in shares of American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares in the last quarter. Y.D. More Investments Ltd purchased a new position in shares of American International Group during the second quarter worth approximately $27,000. True Wealth Design LLC bought a new position in shares of American International Group in the third quarter worth approximately $29,000. Finally, Versant Capital Management Inc increased its stake in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Down 0.4 %

NYSE AIG traded down $0.32 during trading hours on Tuesday, hitting $75.69. 412,848 shares of the company’s stock traded hands, compared to its average volume of 4,086,620. American International Group, Inc. has a 52 week low of $64.81 and a 52 week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The business’s fifty day moving average price is $75.82 and its two-hundred day moving average price is $75.46.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the previous year, the firm earned $1.61 EPS. On average, research analysts expect that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Wall Street Analyst Weigh In

AIG has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and decreased their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut their price target on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Bank of America upped their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

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.