American International Group, Inc. (NYSE:AIG) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System trimmed its stake in American International Group, Inc. (NYSE:AIG) by 4.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 182,267 shares of the insurance provider’s stock after selling 7,800 shares during the quarter. State of Michigan Retirement System’s holdings in American International Group were worth $13,269,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its holdings in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after buying an additional 6,119,996 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after buying an additional 722,237 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of American International Group by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after acquiring an additional 347,982 shares during the period. Franklin Resources Inc. raised its holdings in shares of American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock valued at $713,272,000 after acquiring an additional 457,821 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of American International Group by 0.8% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after acquiring an additional 59,180 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Performance

Shares of AIG opened at $79.80 on Wednesday. The firm has a market cap of $47.35 billion, a price-to-earnings ratio of -38.37, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The company’s fifty day moving average is $74.85 and its 200-day moving average is $74.91. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $83.77.

American International Group (NYSE:AIG) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Monday, March 17th. American International Group’s payout ratio is -76.92%.

Insider Buying and Selling

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AIG. Wells Fargo & Company lifted their price objective on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price objective on American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Finally, UBS Group dropped their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.94.

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.