California State Teachers Retirement System Has $65.68 Million Stock Holdings in American International Group, Inc. $AIG

California State Teachers Retirement System lowered its position in American International Group, Inc. (NYSE:AIG - Free Report) by 7.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 881,226 shares of the insurance provider's stock after selling 65,844 shares during the quarter. California State Teachers Retirement System owned 0.17% of American International Group worth $65,677,774 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of American International Group in the 4th quarter worth approximately $636,782,000. Bank of New York Mellon Corp purchased a new stake in American International Group during the 2nd quarter worth about $496,890,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of American International Group in the 2nd quarter valued at approximately $464,539,000. Franklin Resources Inc. raised its holdings in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock valued at $1,336,147,000 after acquiring an additional 4,210,363 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in American International Group by 6.9% during the 2nd quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock worth $2,260,622,000 after buying an additional 1,961,270 shares during the period. Institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AIG. Cantor Fitzgerald reduced their price objective on American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a research report on Monday, August 17th. Argus reaffirmed a "buy" rating and set a $90.00 target price on shares of American International Group in a research note on Wednesday, September 2nd. The Goldman Sachs Group boosted their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $95.00 to $96.00 and gave the stock an "outperform" rating in a report on Tuesday, August 11th. Finally, Mizuho upped their target price on shares of American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, American International Group currently has an average rating of "Hold" and an average price target of $88.37.

American International Group Price Performance

Shares of AIG traded down $0.74 during trading hours on Tuesday, reaching $75.55. 1,216,575 shares of the company traded hands, compared to its average volume of 4,237,192. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The stock has a fifty day simple moving average of $77.69 and a 200 day simple moving average of $76.79. The stock has a market capitalization of $39.51 billion, a PE ratio of 13.81, a price-to-earnings-growth ratio of 0.84 and a beta of 0.50. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates of $1.92 by $0.08. American International Group had a return on equity of 11.05% and a net margin of 11.13%.The firm had revenue of $7.08 billion during the quarter, compared to the consensus estimate of $7.25 billion. During the same period in the prior year, the firm posted $1.81 earnings per share. As a group, research analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group's dividend payout ratio is presently 36.56%.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the sale, the insider directly owned 592,833 shares of the company's stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Company Profile

American International Group, Inc NYSE: AIG is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers' compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.

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