Police & Firemen s Retirement System of New Jersey Sells 2,280 Shares of American International Group, Inc. $AIG

Police & Firemen s Retirement System of New Jersey cut its position in American International Group, Inc. (NYSE:AIG) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 88,873 shares of the insurance provider’s stock after selling 2,280 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in American International Group were worth $7,607,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AIG. GQG Partners LLC raised its position in shares of American International Group by 33,315.0% in the first quarter. GQG Partners LLC now owns 18,909,539 shares of the insurance provider’s stock worth $1,643,995,000 after buying an additional 18,852,949 shares in the last quarter. Nuveen LLC purchased a new position in American International Group during the first quarter worth about $440,273,000. AQR Capital Management LLC increased its stake in American International Group by 184.4% in the 1st quarter. AQR Capital Management LLC now owns 3,335,040 shares of the insurance provider’s stock worth $287,214,000 after acquiring an additional 2,162,545 shares during the last quarter. Raymond James Financial Inc. increased its stake in American International Group by 151.6% in the 1st quarter. Raymond James Financial Inc. now owns 3,285,963 shares of the insurance provider’s stock worth $285,682,000 after acquiring an additional 1,980,001 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in shares of American International Group by 22.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 9,113,636 shares of the insurance provider’s stock valued at $792,340,000 after acquiring an additional 1,694,290 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

NYSE AIG opened at $78.28 on Friday. The company has a 50-day simple moving average of $78.81 and a two-hundred day simple moving average of $81.07. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The firm has a market cap of $42.24 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.77 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63. American International Group had a return on equity of 7.88% and a net margin of 11.51%.The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same quarter in the previous year, the business earned $1.23 earnings per share. On average, equities analysts forecast 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 will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be given a $0.45 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is presently 32.73%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Cantor Fitzgerald raised American International Group to a “hold” rating in a report on Tuesday, August 12th. Bank of America boosted their price target on shares of American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Evercore ISI increased their price target on shares of American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Citigroup started coverage on shares of American International Group in a report on Wednesday, August 13th. They set a “neutral” rating and a $85.00 price objective for the company. Finally, Barclays increased their target price on American International Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.00.

American International Group 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.