American International Group, Inc. $AIG Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lessened its stake in American International Group, Inc. (NYSE:AIG) by 20.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 149,346 shares of the insurance provider’s stock after selling 38,663 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $11,238,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AIG. Geneos Wealth Management Inc. raised its position in shares of American International Group by 2.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of American International Group by 2.9% in the second quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after acquiring an additional 130 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of American International Group by 12.6% during the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 140 shares during the period. GW&K Investment Management LLC increased its stake in shares of American International Group by 8.1% during the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 144 shares during the period. Finally, Kestra Private Wealth Services LLC raised its holdings in American International Group by 1.3% during the first quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider’s stock worth $831,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Up 1.5%

American International Group stock opened at $77.91 on Friday. The firm has a market cap of $41.31 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The firm’s 50 day moving average price is $76.34 and its two-hundred day moving average price is $76.69. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same quarter in the prior year, the firm earned $1.17 EPS. On average, research analysts predict that American International Group, Inc. will post 8 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.6%. This is a boost from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s payout ratio is presently 35.27%.

Wall Street Analyst Weigh In

AIG has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut their target price on American International Group from $98.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, July 8th. Piper Sandler reissued a “neutral” rating and issued a $80.00 price objective (down from $88.00) on shares of American International Group in a research note on Wednesday. JPMorgan Chase & Co. cut their price objective on American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Barclays raised their target price on American International Group from $78.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, The Goldman Sachs Group lifted their target price on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Hold” and a consensus price target of $88.00.

American International Group 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.