New York State Common Retirement Fund Sells 68,100 Shares of American International Group, Inc. $AIG

New York State Common Retirement Fund reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 6.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 989,004 shares of the insurance provider’s stock after selling 68,100 shares during the period. New York State Common Retirement Fund owned 0.18% of American International Group worth $77,676,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. increased its stake in American International Group by 6.1% in the 2nd quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after buying an additional 716,209 shares during the last quarter. Norges Bank bought a new position in shares of American International Group in the second quarter valued at approximately $787,724,000. Raymond James Financial Inc. increased its position in shares of American International Group by 4.4% during the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after acquiring an additional 143,361 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in American International Group by 1.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,390,248 shares of the insurance provider’s stock worth $266,270,000 after acquiring an additional 48,900 shares during the period. Finally, Viking Global Investors LP purchased a new position in American International Group in the second quarter worth $155,413,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AIG shares. Wall Street Zen lowered American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Bank of America reduced their price target on shares of American International Group from $89.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, January 16th. Piper Sandler raised their price objective on shares of American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, December 22nd. The Goldman Sachs Group boosted their target price on shares of American International Group from $81.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Finally, TD Cowen increased their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $87.42.

American International Group Stock Up 1.3%

AIG opened at $74.34 on Friday. The company has a 50 day moving average of $78.93 and a 200 day moving average of $79.17. The company has a market cap of $40.11 billion, a PE ratio of 13.52, a price-to-earnings-growth ratio of 0.55 and a beta of 0.62. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $88.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The business had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter in the previous year, the firm posted $1.23 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. American International Group’s dividend payout ratio is 32.73%.

American International Group Company Profile

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.