California State Teachers Retirement System Has $4.89 Billion Holdings in American International Group, Inc. $AIG

California State Teachers Retirement System lifted its stake in shares of American International Group, Inc. (NYSE:AIG) by 6,834.8% in the 2nd quarter, Holdings Channel reports. The fund owned 65,677,774 shares of the insurance provider’s stock after acquiring an additional 64,730,704 shares during the quarter. California State Teachers Retirement System owned 0.13% of American International Group worth $4,894,964,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Modus Advisors LLC acquired a new position in American International Group in the 4th quarter worth $27,000. Navalign LLC bought a new position in American International Group during the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. bought a new position in American International Group during the 4th quarter worth about $29,000. First Bancorp Inc ME acquired a new stake in shares of American International Group in the 2nd quarter valued at about $30,000. Finally, SHP Wealth Management acquired a new stake in shares of American International Group in the 4th quarter valued at about $34,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. Barclays upped their price objective on American International Group from $80.00 to $81.00 and gave the stock an “equal weight” rating in a research report on Friday, August 7th. Weiss Ratings raised American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Keefe, Bruyette & Woods boosted their target price on American International Group from $95.00 to $96.00 and gave the company an “outperform” rating in a research note on Tuesday, August 11th. UBS Group upped their price target on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. upped their price target on American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Eight analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $88.37.

American International Group Trading Up 0.4%

Shares of NYSE:AIG opened at $75.01 on Thursday. The company’s 50-day moving average price is $77.95 and its two-hundred day moving average price is $76.89. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The stock has a market capitalization of $39.22 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.84 and a beta of 0.50.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Friday, August 7th. The insurance provider reported $2.00 earnings per share for the quarter, beating the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter last year, the company earned $1.81 EPS. On average, equities analysts forecast that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio is presently 36.56%.

About American International Group

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides commercial and personal insurance products and services. Through its General Insurance business, AIG offers property, casualty, liability, workers’ compensation, accident, specialty, and other insurance solutions to businesses, institutions, and individuals.

AIG serves multinational corporations, small and midsize businesses, public-sector organizations, and individual policyholders through a network spanning numerous countries and jurisdictions.