Public Sector Pension Investment Board Trims Stock Position in American International Group, Inc. (NYSE:AIG)

Key Points

• The Public Sector Pension Investment Board reduced its stake in American International Group (AIG) by 2.0%, owning 158,669 shares worth approximately $13.8 million after selling 3,209 shares.
• AIG reported earnings of $1.81 EPS for the last quarter, surpassing analyst estimates of $1.60, and posted a revenue of $6.77 billion, slightly below the expected $6.81 billion.
• The company announced a quarterly dividend of $0.45 per share, translating to an annualized dividend yield of 2.3%, with an ex-dividend date set for September 16th.

Public Sector Pension Investment Board trimmed its position in American International Group, Inc. (NYSE:AIG - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 158,669 shares of the insurance provider's stock after selling 3,209 shares during the quarter. Public Sector Pension Investment Board's holdings in American International Group were worth $13,795,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Todd Asset Management LLC increased its position in American International Group by 11.5% during the 1st quarter. Todd Asset Management LLC now owns 355,599 shares of the insurance provider's stock valued at $30,916,000 after purchasing an additional 36,665 shares during the period. AIA Group Ltd increased its position in American International Group by 169.6% during the 1st quarter. AIA Group Ltd now owns 10,368 shares of the insurance provider's stock valued at $901,000 after purchasing an additional 6,523 shares during the period. SouthState Corp increased its position in American International Group by 798.5% during the 1st quarter. SouthState Corp now owns 584 shares of the insurance provider's stock valued at $51,000 after purchasing an additional 519 shares during the period. Nuveen LLC purchased a new position in American International Group during the 1st quarter valued at $440,273,000. Finally, Cooper Financial Group increased its position in American International Group by 79.8% during the 1st quarter. Cooper Financial Group now owns 12,540 shares of the insurance provider's stock valued at $1,090,000 after purchasing an additional 5,567 shares during the period. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AIG shares. Morgan Stanley boosted their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Wall Street Zen upgraded shares of American International Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. William Blair upgraded shares of American International Group to a "strong-buy" rating in a report on Friday, August 1st. Wells Fargo & Company boosted their target price on shares of American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of American International Group from $97.00 to $91.00 and set an "outperform" rating on the stock in a report on Tuesday. Nine investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.27.

American International Group Stock Performance

AIG traded down $0.20 during midday trading on Friday, hitting $80.11. 3,437,812 shares of the company traded hands, compared to its average volume of 4,299,072. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $44.38 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. The company's 50-day moving average is $81.80 and its 200 day moving average is $81.32. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.81 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same quarter in the prior year, the business earned $1.16 EPS. On average, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. American International Group's dividend payout ratio is presently 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.