American International Group, Inc. (NYSE:AIG) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System cut its holdings in shares of American International Group, Inc. (NYSE:AIG) by 6.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,444,483 shares of the insurance provider’s stock after selling 95,565 shares during the period. California Public Employees Retirement System owned approximately 0.20% of American International Group worth $83,116,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AIG. Sequoia Financial Advisors LLC raised its holdings in shares of American International Group by 125.0% during the second quarter. Sequoia Financial Advisors LLC now owns 16,949 shares of the insurance provider’s stock valued at $975,000 after acquiring an additional 9,415 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in American International Group by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 125,953 shares of the insurance provider’s stock valued at $6,343,000 after buying an additional 364 shares during the period. CIBC Asset Management Inc increased its stake in shares of American International Group by 0.5% during the 1st quarter. CIBC Asset Management Inc now owns 111,048 shares of the insurance provider’s stock worth $5,592,000 after purchasing an additional 518 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of American International Group by 79.0% during the 1st quarter. AQR Capital Management LLC now owns 5,794,696 shares of the insurance provider’s stock worth $290,025,000 after purchasing an additional 2,557,149 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in shares of American International Group by 27.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 15,156,369 shares of the insurance provider’s stock worth $763,275,000 after purchasing an additional 3,243,870 shares during the last quarter. 88.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AIG shares. Morgan Stanley upped their price objective on shares of American International Group from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, November 9th. Royal Bank of Canada upped their price objective on shares of American International Group from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Barclays upped their price objective on shares of American International Group from $58.00 to $66.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. StockNews.com assumed coverage on shares of American International Group in a report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Piper Sandler reduced their price target on shares of American International Group from $81.00 to $80.00 and set an “overweight” rating for the company in a report on Monday, November 6th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $68.71.

Insider Buying and Selling

In other American International Group news, major shareholder International Group American sold 50,000,000 shares of American International Group stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the transaction, the insider now owns 365,413,892 shares of the company’s stock, valued at approximately $7,490,984,786. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.49% of the stock is currently owned by insiders.

American International Group Price Performance

Shares of NYSE:AIG opened at $64.21 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $61.37 and its two-hundred day simple moving average is $58.53. American International Group, Inc. has a 1-year low of $45.66 and a 1-year high of $64.94. The stock has a market cap of $45.08 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. American International Group had a return on equity of 10.66% and a net margin of 7.87%. The firm had revenue of $12.77 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period last year, the firm posted $0.66 EPS. As a group, analysts forecast that American International Group, Inc. will post 6.63 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, December 13th. American International Group’s dividend payout ratio is presently 27.59%.

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 General Insurance, and Life and Retirement segments. 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.