Employees Retirement System of Texas Sells 63,394 Shares of American International Group, Inc. $AIG

Employees Retirement System of Texas cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 54.8% during the 4th quarter, Holdings Channel reports. The fund owned 52,305 shares of the insurance provider’s stock after selling 63,394 shares during the period. Employees Retirement System of Texas’ holdings in American International Group were worth $4,475,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AIG. Atlantic Union Bankshares Corp boosted its stake in American International Group by 7,100.0% during the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after acquiring an additional 355 shares in the last quarter. Navalign LLC acquired a new position in American International Group during the fourth quarter worth $29,000. Aventura Private Wealth LLC acquired a new position in American International Group during the fourth quarter worth $39,000. JPL Wealth Management LLC acquired a new position in American International Group during the third quarter worth $39,000. Finally, Kohmann Bosshard Financial Services LLC bought a new position in American International Group during the fourth quarter worth about $52,000. 90.60% of the stock is owned by institutional investors.

American International Group Price Performance

AIG stock opened at $75.23 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65. The firm has a market capitalization of $39.89 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.71 and a beta of 0.53. The business’s 50-day moving average is $76.17 and its two-hundred day moving average is $77.61. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter last year, the company earned $1.17 EPS. Analysts anticipate that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is presently 31.75%.

Wall Street Analysts Forecast Growth

AIG has been the subject of several recent analyst reports. Barclays lifted their price objective on shares of American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Friday, May 1st. Keefe, Bruyette & Woods boosted their price target on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Citigroup boosted their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Mizuho upped their target price on American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, BMO Capital Markets boosted their price target on American International Group from $83.00 to $89.00 in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average target price of $88.06.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.