Retirement Systems of Alabama Sells 5,879 Shares of American International Group, Inc. (NYSE:AIG)

Retirement Systems of Alabama trimmed its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 140,520 shares of the insurance provider’s stock after selling 5,879 shares during the period. Retirement Systems of Alabama’s holdings in American International Group were worth $10,290,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its stake in American International Group by 5.3% during the third quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after purchasing an additional 457,821 shares during the period. Synovus Financial Corp lifted its position in shares of American International Group by 6.5% during the 3rd quarter. Synovus Financial Corp now owns 42,684 shares of the insurance provider’s stock worth $3,126,000 after buying an additional 2,603 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of American International Group during the 3rd quarter worth approximately $1,005,000. Virtu Financial LLC acquired a new stake in American International Group in the 3rd quarter valued at $2,880,000. Finally, Advisory Resource Group grew its position in American International Group by 5.3% in the third quarter. Advisory Resource Group now owns 58,996 shares of the insurance provider’s stock valued at $4,320,000 after acquiring an additional 2,951 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of AIG stock opened at $72.09 on Tuesday. The firm has a market cap of $44.97 billion, a price-to-earnings ratio of -21.27, a PEG ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a 12 month low of $65.78 and a 12 month high of $80.83. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a 50-day moving average price of $76.00 and a 200 day moving average price of $75.14.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Research analysts expect that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is currently -47.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on AIG shares. Evercore ISI reduced their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 9th. Barclays assumed coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Jefferies Financial Group increased their price target on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

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.