Verdence Capital Advisors LLC Acquires 284 Shares of American International Group, Inc. (NYSE:AIG)

Verdence Capital Advisors LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,187 shares of the insurance provider’s stock after purchasing an additional 284 shares during the quarter. Verdence Capital Advisors LLC’s holdings in American International Group were worth $1,688,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Atlanta Consulting Group Advisors LLC bought a new stake in shares of American International Group in the 3rd quarter worth approximately $494,000. Artemis Investment Management LLP lifted its position in shares of American International Group by 115.9% during the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock worth $19,965,000 after buying an additional 147,235 shares during the period. Beacon Investment Advisory Services Inc. lifted its position in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock worth $5,155,000 after buying an additional 3,490 shares during the period. Merit Financial Group LLC bought a new position in shares of American International Group during the 4th quarter worth approximately $1,260,000. Finally, Williams & Novak LLC bought a new position in shares of American International Group during the 4th quarter worth approximately $279,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

American International Group stock opened at $81.49 on Thursday. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $83.77. The company’s 50 day moving average price is $75.02 and its two-hundred day moving average price is $74.96. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The stock has a market cap of $48.35 billion, a P/E ratio of -39.18, a P/E/G ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. American International Group’s dividend payout ratio is -76.92%.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice acquired 10,000 shares of American International Group stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AIG. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $79.00 price target (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Keefe, Bruyette & Woods raised their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Finally, Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

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.