State of New Jersey Common Pension Fund D Has $18.06 Million Stake in American International Group, Inc. (NYSE:AIG)

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in American International Group, Inc. by 8.1%, now holding 207,748 shares valued at $18.06 million.
• American International Group recently reported a quarterly earnings per share of $1.81, exceeding analysts' expectations of $1.60, with revenues of $6.77 billion.
• The company declared a quarterly dividend of $0.45 per share, yielding approximately 2.2%, scheduled for payment on September 30th.

State of New Jersey Common Pension Fund D trimmed its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 8.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,748 shares of the insurance provider's stock after selling 18,380 shares during the period. State of New Jersey Common Pension Fund D's holdings in American International Group were worth $18,062,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Capital Research Global Investors lifted its position in shares of 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. GQG Partners LLC lifted its holdings in American International Group by 33,315.0% during the 1st quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider's stock worth $1,643,995,000 after purchasing an additional 18,852,949 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in American International Group by 20.4% during the 1st quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock worth $974,840,000 after purchasing an additional 1,901,998 shares during the last quarter. Northern Trust Corp lifted its holdings in American International Group by 16.9% during the 4th quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider's stock worth $528,430,000 after purchasing an additional 1,050,228 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in American International Group by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,915,405 shares of the insurance provider's stock worth $503,437,000 after purchasing an additional 143,046 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Price Performance

American International Group stock opened at $80.11 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. American International Group, Inc. has a 52 week low of $69.24 and a 52 week high of $88.07. The stock has a market capitalization of $44.38 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 0.86 and a beta of 0.63. The stock has a fifty day moving average of $81.80 and a 200-day moving average of $81.32.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $6.81 billion. During the same quarter in the previous year, the firm earned $1.16 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal 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 issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. American International Group's payout ratio is 34.09%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AIG. Wall Street Zen raised American International Group from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Cfra Research raised American International Group to a "moderate buy" rating in a report on Monday, August 11th. William Blair raised American International Group to a "strong-buy" rating in a report on Friday, August 1st. Wells Fargo & Company lifted their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald raised American International Group to a "hold" rating in a report on Tuesday. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $88.27.

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.

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