Employees Retirement System of Texas Has $4.48 Million Position in American International Group, Inc. $AIG

Employees Retirement System of Texas cut its position in American International Group, Inc. (NYSE:AIG) by 54.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,305 shares of the insurance provider’s stock after selling 63,394 shares during the quarter. Employees Retirement System of Texas’ holdings in American International Group were worth $4,475,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Atlantic Union Bankshares Corp increased its position in American International Group by 7,100.0% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares in the last quarter. Navalign LLC acquired a new position in American International Group during the 4th quarter worth approximately $29,000. Aventura Private Wealth LLC acquired a new position in American International Group during the 4th quarter worth approximately $39,000. JPL Wealth Management LLC acquired a new position in American International Group during the 3rd quarter worth approximately $39,000. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in American International Group during the 4th quarter worth approximately $52,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AIG shares. BMO Capital Markets upped their price objective on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Morgan Stanley lowered their price objective on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. UBS Group upped their price objective on shares of American International Group from $92.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Cantor Fitzgerald upped their price objective on shares of American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, May 4th. Finally, HSBC upped their price objective on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.06.

American International Group Trading Down 2.5%

NYSE:AIG opened at $75.23 on Thursday. The firm’s fifty day moving average is $76.17 and its 200-day moving average is $77.61. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The firm has a market cap of $39.89 billion, a P/E ratio of 13.27, a P/E/G ratio of 0.71 and a beta of 0.53.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the prior year, the firm posted $1.17 EPS. Equities analysts expect that American International Group, Inc. will post 7.97 earnings per share for the current year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is currently 31.75%.

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.