Verition Fund Management LLC acquired a new position in American International Group, Inc. (NYSE:AIG) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,055 shares of the insurance provider’s stock, valued at approximately $566,000.

A number of other hedge funds have also recently modified their holdings of AIG. Boston Partners grew its position in American International Group by 262.4% in the 2nd quarter. Boston Partners now owns 6,861,857 shares of the insurance provider’s stock worth $429,003,000 after purchasing an additional 4,968,504 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in American International Group by 307.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 4,167,213 shares of the insurance provider’s stock worth $260,534,000 after purchasing an additional 3,144,446 shares in the last quarter. Prudential Financial Inc. grew its position in American International Group by 202.5% in the 2nd quarter. Prudential Financial Inc. now owns 4,009,199 shares of the insurance provider’s stock worth $250,655,000 after purchasing an additional 2,683,775 shares in the last quarter. Renaissance Technologies LLC bought a new stake in American International Group in the 2nd quarter worth about $134,359,000. Finally, TIAA CREF Investment Management LLC grew its position in American International Group by 27.1% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 9,857,378 shares of the insurance provider’s stock worth $616,283,000 after purchasing an additional 2,103,522 shares in the last quarter. 83.96% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on AIG. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $75.00 price objective on shares of American International Group in a research report on Thursday, August 3rd. BidaskClub raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Atlantic Securities downgraded shares of American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Wednesday, August 9th. Finally, Deutsche Bank AG reaffirmed a “sell” rating and issued a $60.00 price objective (up from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $68.18.

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American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The business had revenue of $11.23 billion for the quarter, compared to the consensus estimate of $12.61 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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