State of New Jersey Common Pension Fund D Sells 8,850 Shares of American International Group, Inc. $AIG

State of New Jersey Common Pension Fund D lessened its stake in American International Group, Inc. (NYSE:AIG) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 188,916 shares of the insurance provider’s stock after selling 8,850 shares during the period. State of New Jersey Common Pension Fund D’s holdings in American International Group were worth $14,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC bought a new position in shares of American International Group during the 4th quarter worth approximately $1,091,000. Sivia Capital Partners LLC grew its holdings in American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after purchasing an additional 1,185 shares during the last quarter. Private Trust Co. NA increased its position in shares of American International Group by 36.0% during the second quarter. Private Trust Co. NA now owns 3,880 shares of the insurance provider’s stock worth $332,000 after purchasing an additional 1,027 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of American International Group by 10.7% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 5,109 shares of the insurance provider’s stock valued at $406,000 after purchasing an additional 493 shares during the last quarter. Finally, Journey Advisory Group LLC acquired a new stake in shares of American International Group in the 2nd quarter worth $240,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Royal Bank Of Canada assumed coverage on American International Group in a research report on Tuesday, November 25th. They set a “sector perform” rating and a $85.00 target price on the stock. Jefferies Financial Group boosted their price target on American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Mizuho decreased their price objective on shares of American International Group from $84.00 to $83.00 and set a “neutral” rating for the company in a research report on Wednesday, January 14th. Piper Sandler dropped their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Finally, HSBC upped their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.32.

American International Group Price Performance

Shares of NYSE:AIG opened at $78.26 on Tuesday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $88.07. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.99 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.60 and a beta of 0.61. The company’s 50 day moving average is $78.92 and its 200 day moving average is $78.85.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The business had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the firm earned $1.30 EPS. On average, sell-side analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. American International Group’s dividend payout ratio (DPR) is presently 33.21%.

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.