Nine Masts Capital LTD Boosted Its American Intl Group (AIG) Holding by $1.83 Million; Stock Price Declined; P Schoenfeld Asset Management LP Has Trimmed Its Firstenergy (FE) Position by $1.55 Million

February 17, 2018 - By Louis Casey

P Schoenfeld Asset Management Lp decreased its stake in Firstenergy Corp (FE) by 12.83% based on its latest 2017Q3 regulatory filing with the SEC. P Schoenfeld Asset Management Lp sold 51,500 shares as the company’s stock declined 8.93% while stock markets rallied. The hedge fund held 350,000 shares of the central company at the end of 2017Q3, valued at $10.79M, down from 401,500 at the end of the previous reported quarter. P Schoenfeld Asset Management Lp who had been investing in Firstenergy Corp for a number of months, seems to be less bullish one the $14.69 billion market cap company. The stock increased 0.73% or $0.24 during the last trading session, reaching $33.03. About 4.81 million shares traded. FirstEnergy Corp. (NYSE:FE) has declined 12.70% since February 17, 2017 and is downtrending. It has underperformed by 29.40% the S&P500.

Chao Ku increased its stake in American Intl Group Inc (AIG) by 3006.3% based on its latest 2017Q3 regulatory filing with the SEC. Nine Masts Capital Ltd bought 30,063 shares as the company’s stock declined 2.08% while stock markets rallied. The hedge fund run by Chao Ku held 31,063 shares of the finance company at the end of 2017Q3, valued at $1.91 million, up from 1,000 at the end of the previous reported quarter. Nine Masts Capital Ltd who had been investing in American Intl Group Inc for a number of months, seems to be bullish on the $53.46B market cap company. The stock increased 0.41% or $0.24 during the last trading session, reaching $59.47. About 6.83M shares traded or 19.68% up from the average. American International Group, Inc. (NYSE:AIG) has risen 8.59% since February 17, 2017 and is uptrending. It has underperformed by 8.11% the S&P500.

Among 20 analysts covering FirstEnergy (NYSE:FE), 7 have Buy rating, 1 Sell and 12 Hold. Therefore 35% are positive. FirstEnergy had 73 analyst reports since July 21, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Sunday, October 15 by RBC Capital Markets. On Thursday, October 12 the stock rating was maintained by JP Morgan with “Neutral”. The stock has “Market Perform” rating by Wolfe Research on Monday, June 26. The stock of FirstEnergy Corp. (NYSE:FE) has “Buy” rating given on Friday, January 26 by Bank of America. The rating was maintained by Jefferies on Tuesday, June 20 with “Hold”. Morgan Stanley maintained the stock with “Overweight” rating in Tuesday, February 13 report. The stock of FirstEnergy Corp. (NYSE:FE) has “Hold” rating given on Wednesday, October 18 by KeyBanc Capital Markets. The firm has “Buy” rating by Guggenheim given on Thursday, December 3. Jefferies downgraded FirstEnergy Corp. (NYSE:FE) on Thursday, April 28 to “Hold” rating. Barclays Capital upgraded the shares of FE in report on Thursday, October 13 to “Overweight” rating.

P Schoenfeld Asset Management Lp, which manages about $3.34B and $1.62 billion US Long portfolio, upped its stake in Trinity Inds Inc (NYSE:TRN) by 1.19M shares to 1.29M shares, valued at $41.21M in 2017Q3, according to the filing. It also increased its holding in Conduent Inc by 573,371 shares in the quarter, for a total of 1.24 million shares, and has risen its stake in Alere Inc (NYSE:ALR).

Investors sentiment decreased to 1.13 in 2017 Q3. Its down 0.08, from 1.21 in 2017Q2. It worsened, as 35 investors sold FE shares while 155 reduced holdings. 54 funds opened positions while 161 raised stakes. 360.52 million shares or 3.08% more from 349.76 million shares in 2017Q2 were reported. Savings Bank Of Nova Scotia reported 77,230 shares. Moreover, Suntrust Banks has 0.02% invested in FirstEnergy Corp. (NYSE:FE). Financial Mngmt Inc reported 27 shares. Electron Capital Prtn Ltd invested in 11.73% or 2.04M shares. 2.03 million are owned by Deutsche Bancorp Ag. Amalgamated Natl Bank holds 47,567 shares. Rare holds 0.01% in FirstEnergy Corp. (NYSE:FE) or 3,671 shares. Nordea Invest Mgmt Ab holds 86,593 shares or 0.01% of its portfolio. Paloma Partners stated it has 0.04% of its portfolio in FirstEnergy Corp. (NYSE:FE). Ngam Advsr Ltd Partnership has invested 0.04% of its portfolio in FirstEnergy Corp. (NYSE:FE). Weiss Multi owns 638,949 shares for 0.73% of their portfolio. 100,917 are owned by Sei Invs. Shelton Cap holds 26,697 shares. Prelude Management Lc has invested 0.06% in FirstEnergy Corp. (NYSE:FE). Van Eck Assoc, New York-based fund reported 45,319 shares.

Analysts await FirstEnergy Corp. (NYSE:FE) to report earnings on February, 20. They expect $0.66 earnings per share, up 73.68% or $0.28 from last year’s $0.38 per share. FE’s profit will be $293.61M for 12.51 P/E if the $0.66 EPS becomes a reality. After $0.97 actual earnings per share reported by FirstEnergy Corp. for the previous quarter, Wall Street now forecasts -31.96% negative EPS growth.

Among 21 analysts covering American International Group (NYSE:AIG), 13 have Buy rating, 2 Sell and 6 Hold. Therefore 62% are positive. American International Group had 72 analyst reports since August 5, 2015 according to SRatingsIntel. Atlantic Securities upgraded American International Group, Inc. (NYSE:AIG) on Tuesday, March 22 to “Neutral” rating. Deutsche Bank downgraded American International Group, Inc. (NYSE:AIG) on Monday, March 13 to “Sell” rating. Argus Research maintained it with “Buy” rating and $64 target in Thursday, March 24 report. The firm has “Buy” rating by Wells Fargo given on Thursday, April 13. The stock of American International Group, Inc. (NYSE:AIG) earned “Outperform” rating by Wells Fargo on Tuesday, May 17. On Friday, February 26 the stock rating was maintained by FBR Capital with “Market Perform”. As per Tuesday, May 10, the company rating was maintained by FBR Capital. BMO Capital Markets maintained the stock with “Market Perform” rating in Monday, August 22 report. The firm earned “Buy” rating on Wednesday, August 2 by Wells Fargo. The stock of American International Group, Inc. (NYSE:AIG) earned “Overweight” rating by Morgan Stanley on Tuesday, May 16.

Nine Masts Capital Ltd, which manages about $674.93M US Long portfolio, decreased its stake in Nvidia Corp (Call) (NASDAQ:NVDA) by 350 shares to 350 shares, valued at $497,000 in 2017Q3, according to the filing. It also reduced its holding in China Unicom (Hong Kong) Ltd (NYSE:CHU) by 237,800 shares in the quarter, leaving it with 168,200 shares, and cut its stake in Ryanair Hldgs Plc.

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By1 Louis Casey

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