nVerses Capital LLC Acquires 10,300 Shares of American International Group, Inc. (NYSE:AIG)

nVerses Capital LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 198.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,500 shares of the insurance provider’s stock after acquiring an additional 10,300 shares during the period. American International Group comprises 0.5% of nVerses Capital LLC’s portfolio, making the stock its 6th largest holding. nVerses Capital LLC’s holdings in American International Group were worth $1,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Swedbank AB purchased a new stake in American International Group during the 1st quarter worth about $99,951,000. Canada Pension Plan Investment Board raised its position in shares of American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after buying an additional 941,607 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of American International Group by 83.6% during the second quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock valued at $97,825,000 after buying an additional 597,765 shares during the period. Senator Investment Group LP boosted its position in American International Group by 41.0% during the first quarter. Senator Investment Group LP now owns 1,517,466 shares of the insurance provider’s stock worth $118,620,000 after acquiring an additional 441,048 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in American International Group by 171.9% during the first quarter. National Bank of Canada FI now owns 640,971 shares of the insurance provider’s stock worth $51,348,000 after acquiring an additional 405,230 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction 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 in the company, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AIG has been the topic of several analyst reports. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $93.00 to $89.00 in a report on Thursday, October 10th. Evercore ISI lowered their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group boosted their price objective on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley reduced their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods dropped their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.38.

American International Group Stock Up 1.3 %

NYSE AIG traded up $0.97 during mid-day trading on Thursday, reaching $78.11. 1,189,740 shares of the company’s stock traded hands, compared to its average volume of 4,124,500. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $58.69 and a 1-year high of $80.83. The company has a fifty day simple moving average of $74.16 and a 200-day simple moving average of $75.48. The company has a market cap of $51.84 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 3.88 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the business posted $1.75 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. As a group, equities research analysts expect that American International Group, Inc. will post 5.09 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

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.