American International Group, Inc. $AIG Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 20.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,346 shares of the insurance provider’s stock after selling 38,663 shares during the period. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $11,238,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AIG. Geneos Wealth Management Inc. lifted its holdings in American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares during the last quarter. Larson Financial Group LLC raised its position in shares of American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 140 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of American International Group by 8.1% during the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 144 shares in the last quarter. Finally, Kestra Private Wealth Services LLC lifted its stake in American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

American International Group Trading Up 1.5%

Shares of NYSE:AIG opened at $77.91 on Friday. 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 company’s 50-day moving average price is $76.34 and its 200 day moving average price is $76.69. The company has a market cap of $41.31 billion, a PE ratio of 13.74, a P/E/G ratio of 0.70 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 released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $1.17 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were given a $0.50 dividend. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a yield of 2.6%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 35.27%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AIG shares. Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 2nd. BMO Capital Markets raised their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Bank of America dropped their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Finally, HSBC cut their target price on shares of American International Group from $94.00 to $88.00 and set a “buy” rating on the stock in a report on Monday, July 6th. One 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.00.

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.