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

California Public Employees Retirement System boosted its holdings in American International Group, Inc. (NYSE:AIG) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,073,176 shares of the insurance provider’s stock after acquiring an additional 30,448 shares during the quarter. California Public Employees Retirement System owned 0.19% of American International Group worth $91,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Twin Peaks Wealth Advisors LLC bought a new position in American International Group during the 2nd quarter valued at about $32,000. GFG Capital LLC bought a new position in American International Group during the second quarter valued at approximately $33,000. Barrett & Company Inc. purchased a new stake in American International Group in the second quarter worth approximately $35,000. NewSquare Capital LLC grew its position in American International Group by 58.6% in the 2nd quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock worth $36,000 after purchasing an additional 154 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in American International Group during the 2nd quarter valued at $40,000. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $76.32 on Tuesday. The company has a market capitalization of $41.18 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.81 and a beta of 0.62. American International Group, Inc. has a 1-year low of $69.24 and a 1-year high of $88.07. The firm’s 50 day simple moving average is $78.35 and its two-hundred day simple moving average is $80.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.32 and a quick ratio of 1.32.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, beating the consensus estimate of $1.57 by $0.63. American International Group had a net margin of 11.89% and a return on equity of 9.09%. The firm had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.82 billion. During the same period last year, the firm earned $1.23 EPS. Research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, December 16th. American International Group’s payout ratio is presently 32.73%.

Analysts Set New Price Targets

AIG has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on American International Group from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Morgan Stanley cut their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. The Goldman Sachs Group lowered their price objective on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating on the stock in a research note on Monday. Barclays downgraded shares of American International Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $95.00 to $88.00 in a report on Friday. Finally, Cantor Fitzgerald raised shares of American International Group to a “hold” rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.81.

About American International Group

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.