American International Group, Inc. (NYSE:AIG) Holdings Cut by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in American International Group, Inc. (NYSE:AIG) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,491,295 shares of the insurance provider’s stock after selling 202,108 shares during the period. New York State Common Retirement Fund’s holdings in American International Group were worth $101,035,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Invesco Ltd. lifted its holdings in American International Group by 3.0% in the third quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock worth $1,035,384,000 after acquiring an additional 503,547 shares during the last quarter. FMR LLC raised its holdings in shares of American International Group by 5.0% during the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after buying an additional 604,901 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of American International Group by 3.8% during the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock valued at $674,573,000 after buying an additional 408,335 shares during the last quarter. Northern Trust Corp raised its holdings in shares of American International Group by 1.8% during the third quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock valued at $467,305,000 after buying an additional 133,828 shares during the last quarter. Finally, LSV Asset Management raised its holdings in shares of American International Group by 13.2% during the third quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after buying an additional 639,079 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $77.00 in a report on Tuesday, February 20th. Morgan Stanley lifted their price target on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Evercore ISI lifted their price target on American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a report on Thursday, April 11th. Finally, Piper Sandler raised their price objective on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

Insiders Place Their Bets

In other news, Director John C. Inglis acquired 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 transaction, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction 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 sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the company’s stock in a transaction that occurred 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 acquisition, the director now directly owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

American International Group stock traded up $0.26 during mid-day trading on Tuesday, hitting $75.22. The company’s stock had a trading volume of 981,691 shares, compared to its average volume of 3,926,883. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $51.22 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.07 and a beta of 1.03. American International Group, Inc. has a twelve month low of $48.95 and a twelve month high of $78.95. The stock’s fifty day moving average price is $74.31 and its two-hundred day moving average price is $68.66.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the previous year, the company posted $1.36 EPS. The company’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts forecast that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s payout ratio is 28.86%.

American International Group Company 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.