New York State Teachers Retirement System lessened its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 12.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 524,442 shares of the insurance provider's stock after selling 71,262 shares during the quarter. New York State Teachers Retirement System owned 0.09% of American International Group worth $45,595,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors boosted its position in American International Group by 1.4% in the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock valued at $2,540,050,000 after buying an additional 482,724 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider's stock valued at $1,951,427,000 after acquiring an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider's stock valued at $1,029,905,000 after acquiring an additional 461,912 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider's stock worth $760,528,000 after acquiring an additional 1,284,354 shares during the period. Finally, Norges Bank purchased a new position in shares of American International Group during the fourth quarter worth $718,013,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.
American International Group Price Performance
Shares of AIG stock traded up $0.22 on Thursday, reaching $82.58. 2,803,859 shares of the company were exchanged, compared to its average volume of 4,368,371. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The business has a 50-day moving average price of $83.74 and a 200 day moving average price of $79.74. The company has a market cap of $47.59 billion, a price-to-earnings ratio of -31.04, a P/E/G ratio of 0.93 and a beta of 0.63.
American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. During the same period in the previous year, the firm posted $1.25 EPS. Equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.
American International Group Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. This is a boost from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, June 13th. American International Group's payout ratio is presently -67.67%.
Analysts Set New Price Targets
AIG has been the topic of several recent research reports. Barclays upped their price target on shares of American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Wells Fargo & Company upped their target price on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft raised their target price on American International Group to $91.00 and gave the stock a "buy" rating in a report on Wednesday, April 2nd. Evercore ISI boosted their price target on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a report on Tuesday, April 1st. Finally, HSBC raised shares of American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.12.
Read Our Latest Report on AIG
Insider Buying and Selling
In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the sale, the executive vice president owned 21,400 shares of the company's stock, valued at $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.50% of the company's stock.
About American International Group
(
Free Report)
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.
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