Employees Retirement System of Texas decreased its holdings in American International Group Inc (NYSE:AIG) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,100 shares of the insurance provider’s stock after selling 31,300 shares during the period. Employees Retirement System of Texas’ holdings in American International Group were worth $15,020,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Connable Office Inc. bought a new position in American International Group during the third quarter valued at approximately $1,563,000. State of Alaska Department of Revenue boosted its stake in American International Group by 334.7% during the fourth quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock valued at $5,834,000 after buying an additional 75,415 shares during the last quarter. Synovus Financial Corp boosted its stake in American International Group by 1.9% during the third quarter. Synovus Financial Corp now owns 93,385 shares of the insurance provider’s stock valued at $5,715,000 after buying an additional 1,727 shares during the last quarter. Patriot Wealth Management Inc. boosted its stake in American International Group by 1.4% during the fourth quarter. Patriot Wealth Management Inc. now owns 142,495 shares of the insurance provider’s stock valued at $8,490,000 after buying an additional 1,989 shares during the last quarter. Finally, Torray LLC boosted its stake in American International Group by 26.0% during the third quarter. Torray LLC now owns 190,836 shares of the insurance provider’s stock valued at $11,715,000 after buying an additional 39,368 shares during the last quarter. 86.74% of the stock is owned by hedge funds and other institutional investors.
Shares of American International Group Inc (NYSE AIG) opened at $59.47 on Tuesday. The stock has a market capitalization of $53,669.83, a P/E ratio of -8.66, a PEG ratio of 0.96 and a beta of 1.18. American International Group Inc has a one year low of $57.85 and a one year high of $67.30. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.43.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, March 14th. American International Group’s payout ratio is -18.63%.
In other news, insider Claudine Macartney sold 2,052 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $59.61, for a total value of $122,319.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.52% of the stock is owned by company insiders.
A number of equities analysts recently commented on the company. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target for the company. in a research note on Friday, November 3rd. Zacks Investment Research lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, October 30th. B. Riley reissued a “neutral” rating on shares of American International Group in a research note on Monday, November 6th. Credit Suisse Group set a $73.00 price target on American International Group and gave the company a “buy” rating in a research note on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $74.00 price target on shares of American International Group in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. American International Group has an average rating of “Hold” and a consensus target price of $66.91.
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About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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