New York State Common Retirement Fund Sells 117,700 Shares of American International Group, Inc. (NYSE:AIG)

New York State Common Retirement Fund lessened its stake in American International Group, Inc. (NYSE:AIG) by 8.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,198,110 shares of the insurance provider’s stock after selling 117,700 shares during the period. New York State Common Retirement Fund’s holdings in American International Group were worth $87,738,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AIG. Cetera Investment Advisers increased its stake in shares of American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the period. OFI Invest Asset Management boosted its holdings in shares of American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after purchasing an additional 9,805 shares during the period. Bessemer Group Inc. grew its stake in shares of American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after purchasing an additional 11,149 shares during the last quarter. Coronation Fund Managers Ltd. purchased a new position in American International Group during the 1st quarter valued at about $1,367,000. Finally, Illinois Municipal Retirement Fund raised its position in American International Group by 19.0% during the 1st quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock valued at $12,206,000 after purchasing an additional 24,906 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 opened at $75.72 on Friday. The company has a market capitalization of $48.76 billion, a PE ratio of -58.70, a PEG ratio of 5.29 and a beta of 1.06. The business has a fifty day moving average price of $75.09 and a 200-day moving average price of $75.58. American International Group, Inc. has a 1-year low of $62.52 and a 1-year high of $80.83. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm posted $1.75 earnings per share. As a group, equities analysts expect that American International Group, Inc. will post 4.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler cut their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. 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 dropped their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, October 9th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus target price of $84.38.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.61% of the stock is 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.