American International Group, Inc. (NYSE:AIG) Stock Holdings Cut by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,101 shares of the insurance provider’s stock after selling 926 shares during the quarter. Maryland State Retirement & Pension System’s holdings in American International Group were worth $3,963,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC boosted its position in shares of American International Group by 2,252.4% in the first quarter. Norden Group LLC now owns 162,784 shares of the insurance provider’s stock worth $12,725,000 after buying an additional 155,864 shares during the period. Denali Advisors LLC boosted its position in shares of American International Group by 17.0% in the first quarter. Denali Advisors LLC now owns 12,400 shares of the insurance provider’s stock worth $969,000 after buying an additional 1,800 shares during the period. Verum Partners LLC acquired a new stake in shares of American International Group in the first quarter worth $227,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in shares of American International Group by 2.3% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 594,793 shares of the insurance provider’s stock worth $46,495,000 after acquiring an additional 13,554 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of American International Group by 13.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 627,917 shares of the insurance provider’s stock worth $49,084,000 after acquiring an additional 72,487 shares in the last quarter. 90.60% of the stock is owned by institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 30,000,000 shares of American International Group stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at $8,590,746,171.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock traded down $0.92 during trading on Friday, reaching $74.23. The company’s stock had a trading volume of 243,425 shares, compared to its average volume of 4,104,211. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.29 and a current ratio of 0.29. The business’s fifty day moving average price is $76.76 and its 200-day moving average price is $73.44. The firm has a market cap of $49.26 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. American International Group, Inc. has a one year low of $56.97 and a one year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. During the same period last year, the business earned $1.63 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group declared that its board has initiated a share repurchase plan on Wednesday, May 1st that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s payout ratio is presently 23.88%.

Analyst Ratings Changes

Several analysts recently issued reports on AIG shares. HSBC lowered American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a report on Wednesday, May 15th. Citigroup increased their price objective on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley increased their price objective on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Evercore ISI cut their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. Finally, Wells Fargo & Company increased their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.38.

American International Group Company Profile

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.