California State Teachers Retirement System Decreases Holdings in American International Group, Inc. $AIG

Key Points

• California State Teachers Retirement System reduced its AIG holdings by 4.1% in the first quarter, selling 40,586 shares and retaining 947,070 shares worth approximately $71.3 million. Institutional investors collectively own 90.6% of AIG.
• Analyst sentiment remains mixed: Goldman Sachs, UBS, and Cantor Fitzgerald raised their price targets or ratings, while Piper Sandler cut its target to $80. AIG has a consensus “Hold” rating and an average price target of $88.22.
• AIG shares opened at $78.92, near their 50-day and 200-day moving averages. The insurer’s latest quarterly earnings beat expectations, reporting adjusted EPS of $2.11 versus the $1.89 consensus, although revenue fell short of forecasts.

California State Teachers Retirement System lowered its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 4.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 947,070 shares of the insurance provider's stock after selling 40,586 shares during the quarter. California State Teachers Retirement System owned about 0.18% of American International Group worth $71,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Geneos Wealth Management Inc. raised its holdings in American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock worth $434,000 after purchasing an additional 129 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in shares of American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock worth $396,000 after buying an additional 130 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock valued at $107,000 after buying an additional 140 shares in the last quarter. GW&K Investment Management LLC grew its position in shares of American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider's stock valued at $164,000 after buying an additional 144 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock valued at $831,000 after buying an additional 146 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on AIG. The Goldman Sachs Group lifted their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Weiss Ratings raised American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. UBS Group lifted their target price on American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Piper Sandler reiterated a "neutral" rating and set a $80.00 target price (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. Finally, Cantor Fitzgerald raised American International Group from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $85.00 to $92.00 in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $88.22.

American International Group Stock Performance

Shares of American International Group stock opened at $78.92 on Friday. The firm's fifty day simple moving average is $76.87 and its 200-day simple moving average is $76.51. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The stock has a market capitalization of $41.84 billion, a price-to-earnings ratio of 13.92, a PEG ratio of 0.74 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.03 billion. During the same quarter in the prior year, the business earned $1.17 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.