California Public Employees Retirement System Raises Stock Position in American International Group, Inc. $AIG

California Public Employees Retirement System raised its position in American International Group, Inc. (NYSE:AIG) by 8.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,161,994 shares of the insurance provider’s stock after acquiring an additional 88,818 shares during the period. California Public Employees Retirement System’s holdings in American International Group were worth $91,263,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AIG. Meeder Asset Management Inc. lifted its holdings in American International Group by 88.8% in the third quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider’s stock valued at $4,580,000 after acquiring an additional 27,431 shares during the last quarter. AlphaQuest LLC acquired a new stake in American International Group during the third quarter worth $2,724,000. Allstate Corp acquired a new stake in American International Group during the third quarter worth $1,689,000. Mitsubishi UFJ Trust & Banking Corp raised its position in American International Group by 21.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,680 shares of the insurance provider’s stock valued at $45,842,000 after purchasing an additional 103,762 shares during the period. Finally, Algebris UK Ltd. acquired a new position in shares of American International Group in the 3rd quarter valued at $15,032,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.2%

AIG opened at $76.56 on Tuesday. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The business has a fifty day simple moving average of $76.55 and a 200-day simple moving average of $78.68. The firm has a market cap of $41.08 billion, a P/E ratio of 14.12, a P/E/G ratio of 0.59 and a beta of 0.58.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. American International Group had a return on equity of 9.79% and a net margin of 11.56%.The firm had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the previous year, the business earned $1.30 EPS. On average, equities analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Announces Dividend

The firm also recently declared 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 yield of 2.4%. American International Group’s dividend payout ratio is 33.21%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AIG. Morgan Stanley set a $83.00 price target on American International Group in a report on Monday. The Goldman Sachs Group upgraded shares of American International Group from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Thursday, March 5th. UBS Group decreased their target price on shares of American International Group from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Tuesday, February 17th. Piper Sandler lowered their target price on shares of American International Group from $95.00 to $88.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, Mizuho lifted their price target on shares of American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $88.17.

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.