Public Sector Pension Investment Board Acquires 1,992 Shares of American International Group, Inc. (NYSE:AIG)

Public Sector Pension Investment Board grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 1.8% in the 2nd quarter, Holdings Channel reports. The fund owned 112,516 shares of the insurance provider’s stock after buying an additional 1,992 shares during the period. Public Sector Pension Investment Board’s holdings in American International Group were worth $8,353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Y.D. More Investments Ltd acquired a new position in shares of American International Group in the second quarter valued at approximately $27,000. Fortitude Family Office LLC increased its position in American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 239 shares during the period. Valued Wealth Advisors LLC raised its stake in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of American International Group during the first quarter worth $29,000. Finally, Versant Capital Management Inc grew its stake in shares of American International Group by 326.0% in the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 339 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $73.42 on Wednesday. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The stock’s 50 day moving average is $74.38 and its 200-day moving average is $75.68. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $48.73 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $1.75 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is currently 23.88%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 14,964,738 shares of company stock valued at $400,732,195 over the last ninety days. 0.61% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AIG has been the subject of several analyst reports. Evercore ISI lowered their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. TD Cowen cut their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upped their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 11th. StockNews.com lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, Citigroup reduced their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average price target of $83.88.

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.