California Public Employees Retirement System Sells 116,536 Shares of American International Group, Inc. (NYSE:AIG)

California Public Employees Retirement System cut its holdings in American International Group, Inc. (NYSE:AIG) by 9.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,093,852 shares of the insurance provider’s stock after selling 116,536 shares during the quarter. California Public Employees Retirement System’s holdings in American International Group were worth $79,632,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AIG. RWA Wealth Partners LLC lifted its stake in shares of American International Group by 30.0% in the 4th quarter. RWA Wealth Partners LLC now owns 4,265 shares of the insurance provider’s stock valued at $310,000 after purchasing an additional 984 shares during the period. Schroder Investment Management Group increased its holdings in American International Group by 3.9% in the fourth quarter. Schroder Investment Management Group now owns 321,646 shares of the insurance provider’s stock valued at $23,335,000 after purchasing an additional 11,951 shares during the last quarter. Allianz SE bought a new position in American International Group during the fourth quarter worth about $7,953,000. Allstate Corp acquired a new position in shares of American International Group during the 4th quarter worth about $1,497,000. Finally, Brown Brothers Harriman & Co. increased its stake in shares of American International Group by 11.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 1,745 shares of the insurance provider’s stock valued at $127,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AIG shares. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods lifted their price target on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, February 14th. BMO Capital Markets raised their price objective on American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research note on Thursday, March 13th. JPMorgan Chase & Co. decreased their target price 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. Finally, Hsbc Global Res upgraded American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

American International Group Stock Performance

Shares of AIG opened at $87.01 on Tuesday. The company has a current ratio of 0.67, a quick 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 $87.51. The firm has a fifty day simple moving average of $78.77 and a 200 day simple moving average of $76.05. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of -41.83, a PEG ratio of 1.01 and a beta of 0.98.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Research analysts forecast 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 was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Insider Activity

In other news, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

About American International Group

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.