State of New Jersey Common Pension Fund D Trims Stock Position in American International Group, Inc. (NYSE:AIG)

State of New Jersey Common Pension Fund D decreased its position in shares of American International Group, Inc. (NYSE:AIG) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 406,857 shares of the insurance provider’s stock after selling 3,084 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of American International Group worth $27,565,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of American International Group in the 3rd quarter worth $26,000. Headlands Technologies LLC purchased a new stake in shares of American International Group during the 3rd quarter worth $32,000. CNB Bank acquired a new position in shares of American International Group during the 3rd quarter worth $42,000. SouthState Corp lifted its stake in shares of American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares during the period. Finally, Blue Trust Inc. boosted its holdings in American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock worth $53,000 after buying an additional 232 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of American International Group stock traded down $0.16 on Friday, reaching $74.47. 5,027,158 shares of the company were exchanged, compared to its average volume of 3,936,687. The firm has a market cap of $50.71 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 1.08 and a beta of 1.03. American International Group, Inc. has a 1-year low of $48.95 and a 1-year high of $78.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The company’s 50-day moving average is $74.61 and its two-hundred day moving average is $68.85.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. During the same period last year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. As a group, research analysts expect that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s payout ratio is currently 28.86%.

Insider Buying and Selling

In related news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John C. Inglis acquired 659 shares of American International Group stock in a transaction that occurred on Thursday, March 14th. The stock was acquired 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 disclosure for this purchase can be found here. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AIG shares. HSBC began 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 target for the company. Morgan Stanley upped their target price on American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Citigroup lifted their price target on American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. BMO Capital Markets lowered their price objective on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Finally, Piper Sandler increased their target price on American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.38.

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.