American International Group, Inc. (NYSE:AIG) Stake Cut by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D reduced its holdings in American International Group, Inc. (NYSE:AIG) by 37.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 243,024 shares of the insurance provider’s stock after selling 145,862 shares during the period. State of New Jersey Common Pension Fund D’s holdings in American International Group were worth $18,042,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC raised its stake in shares of American International Group by 199.2% during the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new stake in American International Group in the 1st quarter worth approximately $29,000. Versant Capital Management Inc lifted its holdings in American International Group by 326.0% in the 2nd 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. Finally, CENTRAL TRUST Co lifted its holdings in American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 250 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of NYSE:AIG opened at $73.20 on Friday. The business’s fifty day moving average price is $74.83 and its two-hundred day moving average price is $75.63. American International Group, Inc. has a fifty-two week low of $57.72 and a fifty-two week high of $80.83. The stock has a market capitalization of $48.58 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 3.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last announced its quarterly earnings results 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). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company earned $1.75 earnings per share. The business’s revenue was up .0% on a year-over-year basis. As a group, analysts predict that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is 23.88%.

Wall Street Analyst Weigh In

Several research analysts have commented on AIG shares. Citigroup dropped their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Monday, August 5th. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on American International Group from $80.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and an average price target of $83.88.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group 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.