Kentucky Retirement Systems Has $3.29 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Kentucky Retirement Systems cut its position in American International Group, Inc. (NYSE:AIG) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 44,861 shares of the insurance provider’s stock after selling 5,151 shares during the period. Kentucky Retirement Systems’ holdings in American International Group were worth $3,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Forum Financial Management LP lifted its stake in American International Group by 1.1% in the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after purchasing an additional 128 shares during the last quarter. Quent Capital LLC raised its stake in American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the period. Avantax Advisory Services Inc. lifted its position in shares of American International Group by 2.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after buying an additional 165 shares during the last quarter. EP Wealth Advisors LLC boosted its stake in shares of American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock worth $276,000 after acquiring an additional 165 shares during the period. Finally, Graypoint LLC increased its holdings in shares of American International Group by 2.0% during the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock worth $635,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Evercore ISI cut their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $90.00 to $84.00 in a research note on Tuesday, October 15th. Piper Sandler reduced their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Barclays began coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.13.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE:AIG opened at $75.77 on Friday. The firm has a 50 day moving average of $75.20 and a 200-day moving average of $75.69. American International Group, Inc. has a 12 month low of $63.57 and a 12 month high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $47.26 billion, a PE ratio of -22.35, a PEG ratio of 7.53 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period in the previous year, the business earned $1.61 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 5.13 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

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.