New Vernon Investment Management LLC Boosts Stock Holdings in American International Group, Inc. (NYSE:AIG)

New Vernon Investment Management LLC grew its position in American International Group, Inc. (NYSE:AIG) by 92.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,312 shares of the insurance provider’s stock after purchasing an additional 41,946 shares during the quarter. American International Group makes up about 6.9% of New Vernon Investment Management LLC’s portfolio, making the stock its 5th largest position. New Vernon Investment Management LLC’s holdings in American International Group were worth $6,394,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of AIG. Cetera Investment Advisers boosted its stake in shares of American International Group by 348.6% in the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. Cetera Advisors LLC boosted its stake in American International Group by 80.9% during the first quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock worth $721,000 after acquiring an additional 4,124 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in American International Group by 10.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,720 shares of the insurance provider’s stock worth $202,000 after acquiring an additional 252 shares in the last quarter. Versant Capital Management Inc boosted its stake in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in American International Group by 6.7% during the second quarter. Park Avenue Securities LLC now owns 24,513 shares of the insurance provider’s stock worth $1,820,000 after acquiring an additional 1,534 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on AIG shares. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Bank of America increased their target price on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays started coverage on shares of American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.80.

American International Group Stock Down 0.4 %

AIG traded down $0.32 during trading on Tuesday, hitting $75.69. 412,848 shares of the company traded hands, compared to its average volume of 4,086,620. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $64.81 and a one year high of $80.83. The stock’s fifty day moving average is $75.82 and its 200 day moving average is $75.46.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter last year, the business earned $1.61 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

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

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

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.