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

Illinois Municipal Retirement Fund trimmed its stake in American International Group, Inc. (NYSE:AIG) by 10.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,878 shares of the insurance provider’s stock after selling 14,855 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $9,442,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. L2 Asset Management LLC raised its stake in American International Group by 4.8% during the second quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock worth $227,000 after purchasing an additional 139 shares during the period. Covestor Ltd grew its stake in shares of American International Group by 11.0% during the 3rd quarter. Covestor Ltd now owns 1,488 shares of the insurance provider’s stock valued at $111,000 after buying an additional 147 shares during the period. Center for Financial Planning Inc. grew its stake in shares of American International Group by 52.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider’s stock valued at $34,000 after buying an additional 156 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of American International Group by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider’s stock valued at $174,000 after buying an additional 158 shares during the period. Finally, Integrated Advisors Network LLC increased its holdings in shares of American International Group by 1.3% during the 3rd quarter. Integrated Advisors Network LLC now owns 13,542 shares of the insurance provider’s stock worth $1,008,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AIG. Wells Fargo & Company increased their target price on American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 5th. Mizuho reduced their target price on American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Royal Bank Of Canada boosted their price target on American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Piper Sandler raised their price objective on American International Group from $84.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.00.

American International Group Trading Down 0.4%

Shares of AIG stock opened at $82.55 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The firm’s 50 day moving average price is $77.90 and its two-hundred day moving average price is $77.13. The stock has a market cap of $42.80 billion, a price-to-earnings ratio of 10.19, a price-to-earnings-growth ratio of 0.87 and a beta of 0.48.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.18. American International Group had a net margin of 11.86% and a return on equity of 10.86%. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. On average, analysts anticipate that American International Group, Inc. will post 8.13 EPS for the current year.

American International Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, December 16th. American International Group’s dividend payout ratio is 32.57%.

About American International Group

American International Group, Inc. (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets. AIG’s principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.