Public Employees Retirement System of Ohio Has $17.11 Million Stake in American International Group, Inc. $AIG

Key Points

• Public Employees Retirement System of Ohio cut its AIG stake by 7.8% in the first quarter, selling 19,353 shares and ending with 227,441 shares worth about $17.11 million.
• AIG reported second-quarter earnings of $2.11 per share, topping analyst expectations, while revenue came in below estimates at $6.65 billion.
• The company raised its quarterly dividend to $0.50 per share from $0.45, and analysts currently have a Hold consensus on the stock with an average price target of $88.22.

Public Employees Retirement System of Ohio lowered its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 7.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,441 shares of the insurance provider's stock after selling 19,353 shares during the quarter. Public Employees Retirement System of Ohio's holdings in American International Group were worth $17,115,000 as of its most recent SEC filing.

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

American International Group Price Performance

Shares of NYSE:AIG opened at $79.09 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The firm has a market cap of $41.93 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.73 and a beta of 0.53. The firm's fifty day moving average is $76.74 and its 200-day moving average is $76.49.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.22. The business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period in the prior year, the business posted $1.17 earnings per share. Sell-side analysts predict that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were given a $0.50 dividend. This is a boost from American International Group's previous quarterly dividend of $0.45. The ex-dividend date was Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. American International Group's dividend payout ratio is presently 35.27%.

Wall Street Analysts Forecast Growth

AIG has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods lowered their target price on American International Group from $98.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, July 8th. Cantor Fitzgerald upgraded American International Group from a "neutral" rating to an "overweight" rating and increased their target price for the company from $85.00 to $92.00 in a research report on Thursday, July 9th. Bank of America cut their price target on American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Finally, Mizuho boosted their price target on American International Group from $86.00 to $89.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $88.22.

About American International Group

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.

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