Versant Capital Management Inc Acquires 339 Shares of American International Group, Inc. (NYSE:AIG)

Versant Capital Management Inc grew its holdings in American International Group, Inc. (NYSE:AIG) by 326.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 443 shares of the insurance provider’s stock after purchasing an additional 339 shares during the quarter. Versant Capital Management Inc’s holdings in American International Group were worth $33,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Capital Research Global Investors raised its holdings in shares of American International Group by 0.4% in the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after purchasing an additional 176,286 shares in the last quarter. Norges Bank bought a new position in shares of American International Group during the 4th quarter worth approximately $746,005,000. Putnam Investments LLC raised its stake in shares of American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock worth $558,646,000 after acquiring an additional 300,712 shares in the last quarter. LSV Asset Management raised its stake in shares of American International Group by 5.3% during the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock worth $392,065,000 after acquiring an additional 290,061 shares in the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock worth $425,273,000 after acquiring an additional 31,340 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other American International Group news, Director W Don Cornwell 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 stock was 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 disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AIG shares. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research note on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. Citigroup dropped their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. BMO Capital Markets boosted their target price on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a research report on Monday, May 13th. Finally, Bank of America boosted their target price on shares of American International Group from $81.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, American International Group presently has an average rating of “Hold” and a consensus target price of $83.47.

American International Group Price Performance

Shares of NYSE AIG traded up $1.11 during mid-day trading on Wednesday, reaching $72.35. The company’s stock had a trading volume of 823,667 shares, compared to its average volume of 4,220,703. The stock has a 50-day moving average of $75.65 and a two-hundred day moving average of $74.88. The stock has a market capitalization of $48.02 billion, a P/E ratio of 10.63, a P/E/G ratio of 2.48 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. American International Group, Inc. has a 1-year low of $57.02 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.37% and a negative net margin of 1.54%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $1.75 EPS. On average, equities research analysts anticipate that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

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

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

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.