Illinois Municipal Retirement Fund Cuts Stock Holdings in American International Group, Inc. (NYSE:AIG)

Illinois Municipal Retirement Fund decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 25.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 131,244 shares of the insurance provider’s stock after selling 45,563 shares during the period. Illinois Municipal Retirement Fund’s holdings in American International Group were worth $8,892,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Foster & Motley Inc. grew its holdings in shares of American International Group by 57.7% during the fourth quarter. Foster & Motley Inc. now owns 19,326 shares of the insurance provider’s stock valued at $1,309,000 after buying an additional 7,074 shares during the last quarter. RWA Wealth Partners LLC lifted its position in American International Group by 8.6% during the fourth quarter. RWA Wealth Partners LLC now owns 3,791 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 300 shares during the period. Monument Capital Management lifted its position in American International Group by 7.5% during the fourth quarter. Monument Capital Management now owns 4,001 shares of the insurance provider’s stock valued at $271,000 after purchasing an additional 279 shares during the period. Duality Advisers LP bought a new position in American International Group during the fourth quarter valued at approximately $207,000. Finally, Cetera Trust Company N.A bought a new position in American International Group during the fourth quarter valued at approximately $158,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.0 %

NYSE:AIG opened at $74.93 on Wednesday. The firm has a market cap of $51.02 billion, a P/E ratio of 15.02, a P/E/G ratio of 1.08 and a beta of 1.03. American International Group, Inc. has a one year low of $48.95 and a one year high of $78.95. The firm has a 50-day simple moving average of $74.41 and a 200-day simple moving average of $68.76. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the business earned $1.36 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts anticipate that American International Group, Inc. will post 6.95 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is presently 28.86%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. HSBC assumed coverage on shares of American International Group in a research report on Thursday, December 28th. They set a “buy” rating and a $86.00 price objective on the stock. Morgan Stanley increased their price target on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Citigroup increased their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. BMO Capital Markets decreased their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods increased their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.38.

Insider Buying and Selling

In related news, Director John C. Inglis acquired 659 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other American International Group news, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now owns 659 shares in the company, valued at approximately $49,682.01. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares in the company, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

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.