State of Michigan Retirement System Sells 8,700 Shares of American International Group, Inc. (NYSE:AIG)

State of Michigan Retirement System lowered its holdings 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 Form 13F filing with the Securities and Exchange Commission (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.

A number of other hedge funds also recently modified their holdings of the business. Drive Wealth Management LLC acquired a new stake in shares of American International Group during the fourth quarter worth about $247,000. Prio Wealth Limited Partnership raised its position in shares of American International Group by 7.0% during the fourth quarter. Prio Wealth Limited Partnership now owns 15,280 shares of the insurance provider’s stock worth $1,035,000 after purchasing an additional 1,000 shares during the period. Miracle Mile Advisors LLC acquired a new stake in shares of American International Group during the fourth quarter worth about $231,000. Fifth Third Bancorp raised its position in shares of American International Group by 0.3% during the fourth quarter. Fifth Third Bancorp now owns 114,311 shares of the insurance provider’s stock worth $7,745,000 after purchasing an additional 333 shares during the period. Finally, Denali Advisors LLC raised its position in shares of American International Group by 16.5% during the fourth quarter. Denali Advisors LLC now owns 10,600 shares of the insurance provider’s stock worth $718,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AIG. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 price target on shares of American International Group in a research report on Monday. HSBC began coverage on American International Group in a research report on Thursday, December 28th. They issued a “buy” rating and a $86.00 target price on the stock. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and lifted their target price for the company from $75.00 to $77.00 in a research report on Tuesday, February 20th. TD Cowen began coverage on American International Group in a research report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company lifted their target price on American International Group from $66.00 to $74.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, American International Group has an average rating of “Moderate Buy” and a consensus target price of $74.47.

Get Our Latest Research Report on AIG

Insider Transactions at American International Group

In other American International Group news, Director John C. Inglis bought 659 shares of American International Group stock in a transaction dated Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the purchase, the director now directly owns 659 shares of the company’s stock, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.49% of the stock is currently owned by corporate insiders.

American International Group Stock Performance

Shares of NYSE AIG opened at $78.02 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group, Inc. has a 12 month low of $48.91 and a 12 month high of $78.70. The stock has a 50 day moving average of $72.53 and a 200-day moving average of $67.16. The company has a market capitalization of $53.13 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.10 and a beta of 1.03.

American International Group (NYSE:AIGGet Free Report) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. During the same period in the previous year, the company posted $1.36 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, equities research analysts predict that American International Group, Inc. will post 7.1 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.85%. American International Group’s dividend payout ratio is currently 28.86%.

About American International Group

(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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