Public Employees Retirement System of Ohio Decreases Stock Position in American International Group, Inc. (NYSE:AIG)

Public Employees Retirement System of Ohio cut its stake in shares of American International Group, Inc. (NYSE:AIG) by 7.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 372,122 shares of the insurance provider’s stock after selling 28,801 shares during the period. Public Employees Retirement System of Ohio owned about 0.06% of American International Group worth $29,089,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital Research Global Investors raised its stake in American International Group by 0.4% during the 4th quarter. Capital Research Global Investors now owns 41,770,175 shares of the insurance provider’s stock valued at $2,829,930,000 after buying an additional 176,286 shares during the last quarter. Norges Bank purchased a new stake in American International Group during the 4th quarter valued at $746,005,000. Putnam Investments LLC raised its stake in American International Group by 3.8% during the 4th quarter. Putnam Investments LLC now owns 8,245,693 shares of the insurance provider’s stock valued at $558,646,000 after buying an additional 300,712 shares during the last quarter. LSV Asset Management raised its stake in American International Group by 5.3% during the 4th quarter. LSV Asset Management now owns 5,786,940 shares of the insurance provider’s stock valued at $392,065,000 after buying an additional 290,061 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in American International Group by 0.6% during the 1st quarter. Clearbridge Investments LLC now owns 5,440,355 shares of the insurance provider’s stock valued at $425,273,000 after buying an additional 31,340 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE AIG traded up $0.83 during mid-day trading on Monday, hitting $78.07. 2,796,273 shares of the company’s stock traded hands, compared to its average volume of 4,147,017. The company’s 50-day moving average is $76.11 and its two-hundred day moving average is $74.51. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market capitalization of $51.81 billion, a P/E ratio of 11.53, a PEG ratio of 2.55 and a beta of 1.08. American International Group, Inc. has a 1 year low of $57.02 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The company had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same period in the prior year, the company posted $1.63 EPS. On average, equities analysts anticipate that American International Group, Inc. will post 6.4 EPS for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a $0.40 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend was Friday, June 14th. American International Group’s dividend payout ratio is 23.88%.

American International Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 1st that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the insurance provider to repurchase up to 19.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on AIG shares. BMO Capital Markets boosted their price objective on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Tuesday, July 9th. Evercore ISI cut their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. HSBC downgraded shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. Finally, Bank of America cut their price objective on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $82.50.

Insider Buying and Selling

In related news, major shareholder International Group American sold 30,000,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total value of $876,000,000.00. Following the sale, the insider now directly owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

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.