American International Group, Inc. $AIG Stake Reduced by State of Michigan Retirement System

State of Michigan Retirement System decreased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 4.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,767 shares of the insurance provider’s stock after selling 6,900 shares during the period. State of Michigan Retirement System’s holdings in American International Group were worth $12,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in AIG. Westfuller Advisors LLC acquired a new stake in American International Group during the third quarter valued at approximately $26,000. Atlantic Union Bankshares Corp increased its holdings in shares of American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after buying an additional 355 shares in the last quarter. Eastern Bank lifted its position in shares of American International Group by 2,473.3% during the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock valued at $30,000 after acquiring an additional 371 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of American International Group during the 2nd quarter worth $32,000. Finally, NewSquare Capital LLC grew its holdings in shares of American International Group by 58.6% in the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of several analyst reports. Wells Fargo & Company upped their target price on American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, January 13th. Barclays reduced their price objective on shares of American International Group from $88.00 to $81.00 and set an “equal weight” rating for the company in a research note on Thursday, January 8th. Wall Street Zen downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Cantor Fitzgerald reduced their price target on shares of American International Group from $80.00 to $77.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Finally, Evercore decreased their price objective on shares of American International Group from $90.00 to $85.00 in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.42.

American International Group Trading Up 1.0%

NYSE AIG opened at $76.71 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07. The firm’s fifty day simple moving average is $78.87 and its 200-day simple moving average is $78.91. The company has a market capitalization of $41.39 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.58 and a beta of 0.61.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.