American International Group, Inc. $AIG Shares Sold by New York State Teachers Retirement System

Key Points

• The New York State Teachers Retirement System decreased its stake in American International Group, Inc. by 2.0%, owning 513,978 shares valued at approximately $43.99 million after selling 10,464 shares.
• American International Group reported $1.81 earnings per share (EPS) for the latest quarter, surpassing analysts' expectations of $1.60, while its revenue was slightly below expectations at $6.77 billion.
• The company declared a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 2.3%, with a payout ratio of 34.09%.

New York State Teachers Retirement System reduced its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,978 shares of the insurance provider's stock after selling 10,464 shares during the period. New York State Teachers Retirement System owned 0.09% of American International Group worth $43,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sachetta LLC boosted its stake in American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider's stock valued at $33,000 after acquiring an additional 249 shares during the period. GFG Capital LLC acquired a new position in American International Group in the second quarter valued at approximately $33,000. Barrett & Company Inc. acquired a new position in American International Group in the second quarter valued at approximately $35,000. Hemington Wealth Management boosted its stake in American International Group by 42.8% in the first quarter. Hemington Wealth Management now owns 474 shares of the insurance provider's stock valued at $41,000 after acquiring an additional 142 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in American International Group in the second quarter valued at approximately $42,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of NYSE:AIG opened at $77.00 on Friday. The stock has a market cap of $42.66 billion, a price-to-earnings ratio of 14.58, a PEG ratio of 0.80 and a beta of 0.68. American International Group, Inc. has a 12 month low of $69.24 and a 12 month high of $88.07. The stock's 50 day moving average price is $80.02 and its 200 day moving average price is $81.57. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.63 and a quick ratio of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the prior year, the company earned $1.16 earnings per share. Equities research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Tuesday, September 16th. American International Group's payout ratio is 34.09%.

Analyst Ratings Changes

A number of brokerages have commented on AIG. Jefferies Financial Group lifted their target price on American International Group from $96.00 to $99.00 and gave the company a "buy" rating in a research note on Tuesday, October 7th. Citigroup initiated coverage on American International Group in a report on Wednesday, August 13th. They set a "neutral" rating and a $85.00 price target on the stock. The Goldman Sachs Group lifted their price target on American International Group from $85.00 to $86.00 and gave the company a "neutral" rating in a report on Monday, October 6th. Morgan Stanley cut their price target on American International Group from $85.00 to $84.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 7th. Finally, Cfra Research raised American International Group to a "moderate buy" rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, American International Group has an average rating of "Moderate Buy" and a consensus target price of $89.81.

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.

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.