Kentucky Retirement Systems Sells 3,303 Shares of American International Group, Inc. (NYSE:AIG)

Kentucky Retirement Systems lowered its position in American International Group, Inc. (NYSE:AIG) by 6.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,012 shares of the insurance provider’s stock after selling 3,303 shares during the quarter. Kentucky Retirement Systems’ holdings in American International Group were worth $3,713,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TCW Group Inc. bought a new position in shares of American International Group in the fourth quarter worth $724,000. Cetera Investment Advisers increased its stake in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after acquiring an additional 44,797 shares during the last quarter. Vinva Investment Management Ltd bought a new position in American International Group in the fourth quarter valued at $1,699,000. OFI Invest Asset Management increased its stake in American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after acquiring an additional 9,805 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock valued at $2,227,000 after acquiring an additional 11,149 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the sale, the insider now directly owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 14,964,738 shares of company stock worth $400,732,195 over the last three months. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AIG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 target price on shares of American International Group in a research note on Tuesday, July 9th. Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. Morgan Stanley cut their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Evercore ISI cut their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Finally, TD Cowen cut their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $83.88.

American International Group Stock Performance

Shares of AIG opened at $73.88 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83. The company has a 50-day simple moving average of $74.62 and a two-hundred day simple moving average of $75.67. The firm has a market capitalization of $49.03 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same quarter last year, the business earned $1.75 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, analysts anticipate that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.17%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

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.