State of Michigan Retirement System Sells 8,400 Shares of American International Group, Inc. (NYSE:AIG)

State of Michigan Retirement System lessened its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,867 shares of the insurance provider's stock after selling 8,400 shares during the period. State of Michigan Retirement System's holdings in American International Group were worth $15,116,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $1,091,000. Proficio Capital Partners LLC raised its position in shares of American International Group by 35.9% in the fourth quarter. Proficio Capital Partners LLC now owns 9,481 shares of the insurance provider's stock valued at $690,000 after buying an additional 2,503 shares in the last quarter. Independent Advisor Alliance raised its position in shares of American International Group by 56.0% in the fourth quarter. Independent Advisor Alliance now owns 16,211 shares of the insurance provider's stock valued at $1,180,000 after buying an additional 5,818 shares in the last quarter. Citizens Financial Group Inc. RI raised its position in shares of American International Group by 17.9% in the fourth quarter. Citizens Financial Group Inc. RI now owns 5,234 shares of the insurance provider's stock valued at $381,000 after buying an additional 794 shares in the last quarter. Finally, Moors & Cabot Inc. raised its position in shares of American International Group by 71.9% in the fourth quarter. Moors & Cabot Inc. now owns 7,533 shares of the insurance provider's stock valued at $548,000 after buying an additional 3,150 shares in the last quarter. Institutional investors own 90.60% of the company's stock.

Insider Activity at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is currently owned by corporate insiders.

American International Group Stock Performance

American International Group stock traded down $0.55 during trading hours on Tuesday, reaching $81.08. 4,796,294 shares of the company were exchanged, compared to its average volume of 4,381,150. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The firm has a market cap of $46.73 billion, a price-to-earnings ratio of -30.48, a PEG ratio of 0.90 and a beta of 0.63. The stock has a 50-day moving average of $83.82 and a 200 day moving average of $80.42.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, research analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio (DPR) is currently -67.67%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AIG shares. Wells Fargo & Company boosted their target price on shares of 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. JPMorgan Chase & Co. restated a "neutral" rating and issued a $91.00 target price (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Jefferies Financial Group upped their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Barclays upped their target price on American International Group from $92.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods increased their target price on shares of American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.12.

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.