California Public Employees Retirement System Decreases Stock Holdings in American International Group, Inc. $AIG

California Public Employees Retirement System lowered its holdings in American International Group, Inc. (NYSE:AIG) by 3.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,085,798 shares of the insurance provider’s stock after selling 40,760 shares during the quarter. California Public Employees Retirement System’s holdings in American International Group were worth $81,706,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Modus Advisors LLC purchased a new stake in American International Group during the 4th quarter worth $27,000. Navalign LLC purchased a new stake in shares of American International Group in the fourth quarter worth about $29,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at about $29,000. SHP Wealth Management acquired a new stake in shares of American International Group in the fourth quarter valued at about $34,000. Finally, CENTRAL TRUST Co raised its holdings in shares of American International Group by 48.7% during the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 0.1%

Shares of AIG opened at $80.43 on Monday. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $42.65 billion, a P/E ratio of 14.19, a P/E/G ratio of 0.74 and a beta of 0.53. The business’s 50-day moving average price is $76.42 and its 200 day moving average price is $76.65.

American International Group (NYSE:AIG) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.22. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the business earned $1.17 EPS. Analysts expect that American International Group, Inc. will post 8 earnings per share for the current year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s dividend payout ratio is presently 35.27%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their price target on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Bank of America reduced their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group raised their price target on shares of American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. UBS Group lifted their price target on shares of American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Wednesday, July 8th. Finally, Morgan Stanley lowered their price target on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $88.00.

American International Group Profile

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.