Teacher Retirement System of Texas Cuts Stock Position in American International Group, Inc. (NYSE:AIG)

Teacher Retirement System of Texas lessened its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 27.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,212 shares of the insurance provider's stock after selling 70,038 shares during the period. Teacher Retirement System of Texas' holdings in American International Group were worth $12,277,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Invesco Ltd. lifted its position in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider's stock worth $1,035,384,000 after buying an additional 503,547 shares during the last quarter. FMR LLC boosted its stake in American International Group by 5.0% in the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider's stock valued at $772,352,000 after acquiring an additional 604,901 shares during the period. Northern Trust Corp raised its position in shares of American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider's stock worth $467,305,000 after purchasing an additional 133,828 shares during the period. LSV Asset Management lifted its holdings in shares of American International Group by 5.3% in the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider's stock worth $392,065,000 after purchasing an additional 290,061 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in American International Group by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,395,566 shares of the insurance provider's stock valued at $297,800,000 after purchasing an additional 32,065 shares during the period. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

AIG stock traded down $1.12 during midday trading on Monday, hitting $78.99. 2,749,591 shares of the company traded hands, compared to its average volume of 3,984,035. American International Group, Inc. has a twelve month low of $52.07 and a twelve month high of $80.83. The stock has a market capitalization of $52.42 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The business has a 50 day simple moving average of $76.16 and a 200-day simple moving average of $70.26.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping the consensus estimate of $1.66 by $0.11. The firm had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same quarter last year, the firm posted $1.63 EPS. As a group, equities research analysts predict that American International Group, Inc. will post 7.08 earnings per share for the current year.

American International Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 1st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. This is a positive change from American International Group's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, June 14th. American International Group's dividend payout ratio is presently 21.49%.

Insider Transactions at American International Group

In related news, Director John C. Inglis purchased 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares of the company's stock, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John C. Inglis acquired 659 shares of the firm's stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by insiders.

Analysts Set New Price Targets

AIG has been the subject of several analyst reports. Royal Bank of Canada boosted their price target on shares of American International Group from $76.00 to $80.00 and gave the company an "outperform" rating in a report on Thursday, February 15th. BMO Capital Markets raised their price target on shares of American International Group from $88.00 to $89.00 and gave the company an "outperform" rating in a research note on Monday. Keefe, Bruyette & Woods boosted their price objective on American International Group from $82.00 to $86.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 10th. Piper Sandler lifted their target price on American International Group from $87.00 to $89.00 and gave the company an "overweight" rating in a research note on Friday, April 19th. Finally, Morgan Stanley boosted their price target on American International Group from $72.00 to $79.00 and gave the stock an "equal weight" rating in a research report on Monday, April 15th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of "Moderate Buy" and an average price target of $81.06.

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.