Illinois Municipal Retirement Fund Sells 45,563 Shares of American International Group, Inc. (NYSE:AIG)

Illinois Municipal Retirement Fund lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 25.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 131,244 shares of the insurance provider’s stock after selling 45,563 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $8,892,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Foster & Motley Inc. boosted its stake in shares of American International Group by 57.7% during the 4th quarter. Foster & Motley Inc. now owns 19,326 shares of the insurance provider’s stock worth $1,309,000 after acquiring an additional 7,074 shares in the last quarter. RWA Wealth Partners LLC boosted its stake in American International Group by 8.6% during the 4th quarter. RWA Wealth Partners LLC now owns 3,791 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 300 shares during the period. Monument Capital Management boosted its stake in American International Group by 7.5% during the 4th quarter. Monument Capital Management now owns 4,001 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 279 shares during the period. Duality Advisers LP bought a new stake in American International Group during the 4th quarter valued at approximately $207,000. Finally, Cetera Trust Company N.A bought a new stake in American International Group during the 4th quarter valued at approximately $158,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock opened at $74.93 on Wednesday. The firm has a market cap of $51.02 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.03. The stock’s 50-day moving average is $74.41 and its 200-day moving average is $68.76. American International Group, Inc. has a one year low of $48.95 and a one year high of $78.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. American International Group’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.36 earnings per share. Equities analysts predict that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is presently 28.86%.

Insiders Place Their Bets

In other American International Group news, Director John C. Inglis purchased 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John C. Inglis purchased 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the transaction, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AIG. HSBC began coverage on American International Group in a research note on Thursday, December 28th. They set a “buy” rating and a $86.00 target price for the company. Evercore ISI increased their target price on American International Group from $74.00 to $80.00 and gave the company an “in-line” rating in a research note on Thursday, April 11th. Piper Sandler increased their target price on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. UBS Group upped their price target on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods upped their price target on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.38.

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.