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

Verdence Capital Advisors LLC lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,187 shares of the insurance provider’s stock after acquiring 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 reporting period.

A number of other hedge funds also recently made changes to their positions in AIG. Duncker Streett & Co. Inc. bought a new stake in American International Group in the fourth quarter worth $25,000. Asset Planning Inc bought a new stake in American International Group in the fourth quarter worth $26,000. True Wealth Design LLC bought a new stake in American International Group in the third quarter worth $29,000. BankPlus Trust Department bought a new stake in American International Group in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC bought a new stake in American International Group in the fourth quarter worth $40,000. 90.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This trade represents a ? increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

American International Group Trading Up 2.1 %

NYSE:AIG opened at $81.49 on Thursday. The company’s 50 day moving average price is $75.02 and its 200-day moving average price is $74.96. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $83.77. 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 price-to-earnings ratio of -39.18, a PEG ratio of 1.01 and a beta of 0.98.

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

American International Group Announces Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. UBS Group reduced their price target on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. StockNews.com upgraded shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, February 14th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

American International Group 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.