State of Michigan Retirement System Decreases Stock Holdings in American International Group, Inc. $AIG

State of Michigan Retirement System trimmed its position in shares of American International Group, Inc. (NYSE:AIG) by 4.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 166,667 shares of the insurance provider’s stock after selling 7,200 shares during the period. State of Michigan Retirement System’s holdings in American International Group were worth $14,265,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Pinnacle Associates Ltd. lifted its position in shares of American International Group by 1.6% during the first quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider’s stock valued at $670,000 after buying an additional 122 shares during the last quarter. Aaron Wealth Advisors LLC lifted its position in shares of American International Group by 2.4% during the second quarter. Aaron Wealth Advisors LLC now owns 5,466 shares of the insurance provider’s stock valued at $468,000 after buying an additional 126 shares during the last quarter. Monument Capital Management lifted its position in shares of American International Group by 3.5% during the second quarter. Monument Capital Management now owns 3,828 shares of the insurance provider’s stock valued at $328,000 after buying an additional 129 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of American International Group by 0.7% during the first quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider’s stock valued at $1,546,000 after buying an additional 130 shares during the last quarter. Finally, Carnegie Investment Counsel lifted its position in shares of American International Group by 3.1% during the first quarter. Carnegie Investment Counsel now owns 4,311 shares of the insurance provider’s stock valued at $375,000 after buying an additional 131 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

AIG opened at $79.02 on Monday. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $43.78 billion, a PE ratio of 14.97, a P/E/G ratio of 0.77 and a beta of 0.68. The firm has a 50 day moving average of $79.56 and a two-hundred day moving average of $81.30.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.21. American International Group had a net margin of 11.51% and a return on equity of 7.88%. The company had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same period last year, the firm posted $1.16 EPS. On average, analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s dividend payout ratio (DPR) is currently 34.09%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on AIG shares. JPMorgan Chase & Co. increased their price objective on shares of American International Group from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 9th. Evercore ISI increased their price objective on shares of American International Group from $89.00 to $90.00 and gave the company an “in-line” rating in a research report on Wednesday, October 1st. Jefferies Financial Group increased their price objective on shares of American International Group from $96.00 to $99.00 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a research report on Tuesday, August 12th. Finally, Wall Street Zen raised shares of American International Group from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

American International Group Company 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.