State of Michigan Retirement System Has $14.25 Million Stock Position in American International Group, Inc. (NYSE:AIG)

State of Michigan Retirement System reduced its position in shares of American International Group, Inc. (NYSE:AIGFree Report) by 4.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,367 shares of the insurance provider’s stock after selling 8,700 shares during the quarter. State of Michigan Retirement System’s holdings in American International Group were worth $14,252,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. grew its holdings in American International Group by 1.3% during the third quarter. Meeder Advisory Services Inc. now owns 12,808 shares of the insurance provider’s stock valued at $776,000 after purchasing an additional 162 shares during the period. Avantax Advisory Services Inc. grew its holdings in American International Group by 3.6% during the third quarter. Avantax Advisory Services Inc. now owns 4,819 shares of the insurance provider’s stock valued at $292,000 after purchasing an additional 167 shares during the period. Steph & Co. grew its holdings in American International Group by 3.3% during the third quarter. Steph & Co. now owns 5,448 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 176 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in American International Group by 0.7% during the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 27,251 shares of the insurance provider’s stock valued at $1,294,000 after purchasing an additional 186 shares during the period. Finally, Graypoint LLC grew its holdings in American International Group by 2.5% during the third quarter. Graypoint LLC now owns 7,760 shares of the insurance provider’s stock valued at $470,000 after purchasing an additional 191 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AIG. TD Cowen began coverage on American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target for the company. Royal Bank of Canada raised their price target on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. UBS Group raised their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and raised their price target for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. Finally, HSBC began coverage on American International Group in a report on Thursday, December 28th. They issued a “buy” rating and a $86.00 price target for the company. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $74.47.

View Our Latest Analysis on American International Group

American International Group Price Performance

NYSE:AIG opened at $78.02 on Wednesday. The firm has a market capitalization of $53.13 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 1.10 and a beta of 1.03. American International Group, Inc. has a 52-week low of $48.91 and a 52-week high of $78.70. The stock has a fifty day moving average of $72.53 and a 200 day moving average of $67.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter last year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts expect that American International Group, Inc. will post 7.1 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.85%. American International Group’s payout ratio is 28.86%.

Insider Buying and Selling at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares in the company, valued at $49,682.01. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The stock was 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 disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

American International Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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