California State Teachers Retirement System Has $4.89 Billion Holdings in American International Group, Inc. $AIG

Key Points

• CalSTRS dramatically increased its AIG position by 6,834.8% in the second quarter, holding 65.7 million shares worth approximately $4.89 billion, or 12.56% of the insurer. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.00 per share, beating the $1.92 consensus estimate, though revenue of $7.08 billion fell short of expectations. The company declared a $0.50 quarterly dividend, equating to a 2.7% yield.
• Analysts maintain a consensus “Hold” rating, with an average price target of $88.37 versus shares trading near $75.01. Insider ownership is minimal at 0.60%, and CEO Peter Zaffino recently sold shares under a pre-arranged trading plan.

California State Teachers Retirement System grew its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 6,834.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 65,677,774 shares of the insurance provider's stock after purchasing an additional 64,730,704 shares during the quarter. California State Teachers Retirement System owned approximately 12.56% of American International Group worth $4,894,964,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in American International Group by 6.9% in the second quarter. Wellington Management Group LLP now owns 30,331,704 shares of the insurance provider's stock valued at $2,260,622,000 after buying an additional 1,961,270 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider's stock worth $1,400,613,000 after acquiring an additional 4,661,246 shares during the period. Franklin Resources Inc. grew its holdings in American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider's stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider's stock valued at $805,529,000 after acquiring an additional 1,846,979 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider's stock valued at $619,862,000 after acquiring an additional 474,035 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the firm's stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company's stock, valued at $42,334,144.56. This trade represents a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 Trading Up 0.4%

Shares of NYSE AIG opened at $75.01 on Thursday. The company's fifty day moving average is $77.95 and its 200-day moving average is $76.89. The stock has a market cap of $39.22 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 0.84 and a beta of 0.50. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. 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 quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The business had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the company earned $1.81 EPS. Equities research analysts predict that American International Group, Inc. will post 8.02 EPS for the current 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Wednesday, September 16th. American International Group's dividend payout ratio is 36.56%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price target on American International Group from $95.00 to $96.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Cantor Fitzgerald dropped their price objective on American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, August 17th. Argus reissued a "buy" rating and issued a $90.00 target price on shares of American International Group in a research note on Wednesday, September 2nd. Morgan Stanley reduced their target price on American International Group from $82.00 to $81.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 12th. Finally, Mizuho raised their target price on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $88.37.

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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