State of New Jersey Common Pension Fund D Has $27.57 Million Stake in American International Group, Inc. (NYSE:AIG)

State of New Jersey Common Pension Fund D lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 406,857 shares of the insurance provider’s stock after selling 3,084 shares during the period. State of New Jersey Common Pension Fund D’s holdings in American International Group were worth $27,565,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in AIG. Invesco Ltd. boosted its holdings in shares of American International Group by 3.0% in the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares in the last quarter. FMR LLC raised its stake in American International Group by 5.0% during the third quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock worth $772,352,000 after acquiring an additional 604,901 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of American International Group by 3.8% in the third quarter. Bank of New York Mellon Corp now owns 11,131,560 shares of the insurance provider’s stock worth $674,573,000 after acquiring an additional 408,335 shares during the last quarter. Northern Trust Corp increased its position in American International Group by 1.8% during the 3rd quarter. Northern Trust Corp now owns 7,711,308 shares of the insurance provider’s stock worth $467,305,000 after purchasing an additional 133,828 shares in the last quarter. Finally, LSV Asset Management increased its position in American International Group by 13.2% during the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock worth $333,111,000 after purchasing an additional 639,079 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity

In related news, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

NYSE AIG traded down $0.16 during trading on Friday, hitting $74.47. 5,027,158 shares of the company’s stock traded hands, compared to its average volume of 3,936,687. The stock has a market capitalization of $50.71 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.08 and a beta of 1.03. American International Group, Inc. has a 12-month low of $48.95 and a 12-month high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The business has a 50 day moving average of $74.61 and a 200-day moving average of $68.85.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating 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 firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same period in the prior year, the business posted $1.36 earnings per share. The company’s revenue was up .0% on a year-over-year basis. As a group, equities research analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio is presently 28.86%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AIG shares. BMO Capital Markets lowered their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Royal Bank of Canada lifted their target price on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. Evercore ISI raised their price target on shares of American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their price objective on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Wells Fargo & Company raised their target price on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group currently has an average rating of “Moderate Buy” and an average target price of $80.38.

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.