Illinois Municipal Retirement Fund Sells 13,717 Shares of American International Group, Inc. (NYSE:AIG)

Illinois Municipal Retirement Fund reduced its position in American International Group, Inc. (NYSE:AIG) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,104 shares of the insurance provider’s stock after selling 13,717 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $9,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AIG. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of American International Group by 32.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,616 shares of the insurance provider’s stock valued at $2,832,000 after purchasing an additional 9,503 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of American International Group by 29.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,646 shares of the insurance provider’s stock valued at $2,977,000 after purchasing an additional 9,175 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of American International Group by 1.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 144,616 shares of the insurance provider’s stock valued at $10,558,000 after purchasing an additional 2,038 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of American International Group by 54.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 232,327 shares of the insurance provider’s stock valued at $17,013,000 after purchasing an additional 82,337 shares during the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in shares of American International Group during the 3rd quarter valued at approximately $265,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of several research reports. Morgan Stanley lifted their price target on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 target price (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. UBS Group reduced their target price on shares of American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a report on Friday, January 3rd. Finally, StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and a consensus target price of $83.94.

American International Group Stock Up 0.6 %

Shares of NYSE AIG opened at $79.00 on Wednesday. The company has a market capitalization of $46.88 billion, a P/E ratio of -37.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. American International Group, Inc. has a 52-week low of $69.00 and a 52-week high of $80.83. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. The company’s 50 day moving average price is $73.97 and its 200-day moving average price is $74.63.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.03%. American International Group’s payout ratio is presently -76.92%.

Insider Activity at American International Group

In related news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.