California State Teachers Retirement System Lowers Stock Holdings in American International Group, Inc. $AIG

California State Teachers Retirement System lowered its stake in American International Group, Inc. (NYSE:AIG) by 4.1% during the first quarter, HoldingsChannel reports. The firm owned 947,070 shares of the insurance provider’s stock after selling 40,586 shares during the quarter. California State Teachers Retirement System’s holdings in American International Group were worth $71,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of AIG. Price T Rowe Associates Inc. MD grew its position in American International Group by 39.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock valued at $1,400,613,000 after buying an additional 4,661,246 shares during the last quarter. Franklin Resources Inc. raised its position in American International Group by 36.9% during the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after buying an additional 4,210,363 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in American International Group by 22.0% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after buying an additional 1,846,979 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of American International Group by 6.1% in the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after acquiring an additional 474,035 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of American International Group by 10.8% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock worth $640,133,000 after acquiring an additional 731,802 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

NYSE:AIG opened at $78.92 on Friday. The firm’s fifty day simple moving average is $76.87 and its 200-day simple moving average is $76.51. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $41.84 billion, a PE ratio of 13.92, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating the consensus estimate of $1.89 by $0.22. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter last year, the business earned $1.17 earnings per share. Analysts expect that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup boosted their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Barclays raised their price objective on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Bank of America lowered their price objective on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. UBS Group boosted their target price on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods cut their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.22.

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.