American International Group, Inc. (NYSE:AIG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its stake in American International Group, Inc. (NYSE:AIG) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,315 shares of the insurance provider’s stock after selling 2,856 shares during the period. Kentucky Retirement Systems’ holdings in American International Group were worth $4,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of American International Group by 5.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 136 shares during the period. Sage Mountain Advisors LLC raised its holdings in shares of American International Group by 2.3% during the first quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider’s stock worth $524,000 after purchasing an additional 148 shares during the period. Kentucky Retirement Systems Insurance Trust Fund raised its holdings in shares of American International Group by 0.6% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock worth $1,694,000 after purchasing an additional 154 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of American International Group by 0.9% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after purchasing an additional 157 shares during the period. Finally, New Republic Capital LLC raised its holdings in shares of American International Group by 5.2% during the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 164 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other 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 transaction of $56,432,182.80. Following the completion of the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America dropped their target price on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Wells Fargo & Company increased their price objective on shares of American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a report on Tuesday, July 9th. Finally, BMO Capital Markets increased their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, American International Group currently has an average rating of “Hold” and an average target price of $82.50.

American International Group Price Performance

AIG traded up $1.99 on Friday, reaching $77.24. The company had a trading volume of 3,681,487 shares, compared to its average volume of 4,334,715. The company has a fifty day moving average of $76.11 and a 200-day moving average of $74.47. The company has a market capitalization of $51.26 billion, a P/E ratio of 11.53, a PEG ratio of 2.53 and a beta of 1.08. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. American International Group, Inc. has a one year low of $57.02 and a one year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion during the quarter, compared to analyst estimates of $12.04 billion. During the same quarter last year, the firm posted $1.63 EPS. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.4 earnings per share for the current year.

American International Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.40 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. American International Group’s dividend payout ratio (DPR) is 23.88%.

American International Group 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.