Teachers Retirement System of The State of Kentucky Sells 7,100 Shares of American International Group, Inc. $AIG

Teachers Retirement System of The State of Kentucky decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.0% during the first quarter, HoldingsChannel.com reports. The fund owned 343,582 shares of the insurance provider’s stock after selling 7,100 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in American International Group were worth $25,855,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Modus Advisors LLC acquired a new position in American International Group during the fourth quarter valued at approximately $27,000. Navalign LLC bought a new stake in shares of American International Group during the 4th quarter worth $29,000. Mcguire Capital Advisors Inc. bought a new stake in shares of American International Group during the 4th quarter worth $29,000. SHP Wealth Management acquired a new position in American International Group in the 4th quarter valued at $34,000. Finally, Aventura Private Wealth LLC acquired a new position in American International Group in the 4th quarter valued at $39,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group News Summary

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Cantor Fitzgerald upgraded AIG from neutral to overweight and lifted its price target to $92, citing continued Q1 momentum. AIG raised to overweight at Cantor based on Q1 momentum continuing
• Positive Sentiment: Mizuho raised its price target on AIG to $89 from $86, reflecting higher valuation expectations even while keeping a neutral rating. American International Group (NYSE:AIG) Price Target Raised to $89.00 at Mizuho
• Positive Sentiment: Wells Fargo also increased its target on AIG to $89 from $85, suggesting analysts see further upside from current levels. Benzinga report on Wells Fargo target increase
• Neutral Sentiment: Barclays reaffirmed its hold rating on AIG, which does not add to the bullish case but shows the stock still has analyst attention. Barclays Reaffirms Their Hold Rating on American International Group (AIG)
• Neutral Sentiment: UBS issued a positive forecast for AIG, but no specific target change or upgrade was detailed in the provided item. UBS Group Issues Positive Forecast for American International Group (NYSE:AIG) Stock Price

American International Group Stock Down 0.0%

Shares of AIG opened at $79.13 on Monday. The company has a 50-day moving average price of $76.22 and a two-hundred day moving average price of $76.92. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The stock has a market cap of $41.96 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.72 and a beta of 0.53. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29.

American International Group (NYSE:AIG) last posted its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the prior year, the firm earned $1.17 EPS. Equities analysts predict that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 15th were paid a dividend of $0.50 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s payout ratio is currently 35.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Barclays upped their price target on shares of American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Wells Fargo & Company boosted their price objective on American International Group from $85.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Keefe, Bruyette & Woods lowered their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, July 8th. Finally, The Goldman Sachs Group lifted their price target on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, American International Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.44.

About American International Group

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.