Maryland State Retirement & Pension System Cuts Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• The Maryland State Retirement & Pension System has reduced its holdings in American International Group, Inc. (AIG) by 15.8%, now owning 29,199 shares valued at approximately $2.5 million.
• Several large investors, including Ameriflex Group Inc. and Hemington Wealth Management, have recently increased their positions in AIG, indicating continued interest from institutional investors.
• AIG recently declared a quarterly dividend of $0.45 per share, representing an annualized yield of 2.3%, with the ex-dividend date set for September 16th.

Maryland State Retirement & Pension System trimmed its position in American International Group, Inc. (NYSE:AIG - Free Report) by 15.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,199 shares of the insurance provider's stock after selling 5,492 shares during the period. Maryland State Retirement & Pension System's holdings in American International Group were worth $2,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in American International Group by 20.4% in the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after purchasing an additional 1,901,998 shares during the period. Balyasny Asset Management L.P. acquired a new stake in American International Group in the 4th quarter valued at $135,325,000. Caisse DE Depot ET Placement DU Quebec grew its position in American International Group by 2,134.0% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider's stock valued at $103,885,000 after purchasing an additional 1,363,108 shares during the period. GAMMA Investing LLC grew its position in American International Group by 10,211.9% in the 1st quarter. GAMMA Investing LLC now owns 1,146,478 shares of the insurance provider's stock valued at $99,675,000 after purchasing an additional 1,135,360 shares during the period. Finally, Northern Trust Corp grew its position in American International Group by 16.9% in the 4th quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider's stock valued at $528,430,000 after purchasing an additional 1,050,228 shares during the period. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on AIG shares. Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Barclays raised their price objective on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. William Blair upgraded American International Group to a "strong-buy" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company raised their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.33.

American International Group Price Performance

Shares of NYSE AIG traded up $0.50 during midday trading on Monday, hitting $78.63. 3,839,868 shares of the company's stock were exchanged, compared to its average volume of 4,501,675. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The company has a market cap of $43.56 billion, a price-to-earnings ratio of 14.18, a PEG ratio of 0.85 and a beta of 0.63. The business's fifty day moving average price is $82.43 and its two-hundred day moving average price is $81.25.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping the consensus estimate of $1.60 by $0.21. American International Group had a return on equity of 7.88% and a net margin of 11.51%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. As a group, research analysts forecast that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

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.