State Treasurer State of Michigan Trims Stock Holdings in American International Group Inc (NYSE:AIG)

State Treasurer State of Michigan decreased its holdings in American International Group Inc (NYSE:AIG) by 16.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 208,252 shares of the insurance provider’s stock after selling 42,300 shares during the period. State Treasurer State of Michigan’s holdings in American International Group were worth $11,096,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AIG. Boston Partners increased its stake in shares of American International Group by 20.7% in the first quarter. Boston Partners now owns 17,946,719 shares of the insurance provider’s stock worth $772,786,000 after purchasing an additional 3,079,624 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of American International Group by 39.7% in the first quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock worth $445,729,000 after purchasing an additional 2,943,241 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of American International Group by 19.3% in the first quarter. Diamond Hill Capital Management Inc. now owns 8,826,120 shares of the insurance provider’s stock worth $380,053,000 after purchasing an additional 1,428,590 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of American International Group by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 10,338,730 shares of the insurance provider’s stock worth $406,656,000 after purchasing an additional 655,288 shares in the last quarter. Finally, AMF Pensionsforsakring AB purchased a new position in shares of American International Group in the second quarter worth about $33,750,000. Hedge funds and other institutional investors own 90.06% of the company’s stock.

In other news, Director Therese M. Vaughan acquired 1,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was bought at an average cost of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $51,710. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by company insiders.

A number of research firms have recently commented on AIG. Royal Bank of Canada restated an “outperform” rating and issued a $56.00 price objective on shares of American International Group in a research report on Wednesday, May 8th. Barclays raised their price objective on shares of American International Group from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, May 22nd. ValuEngine lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. William Blair upgraded shares of American International Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 18th. Finally, Bank of America restated a “buy” rating and issued a $56.00 price objective (up from $50.00) on shares of American International Group in a research report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $55.86.

Shares of AIG stock traded down $0.64 during trading hours on Wednesday, reaching $53.74. The stock had a trading volume of 1,663,261 shares, compared to its average volume of 3,228,087. The stock has a fifty day simple moving average of $54.93. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group Inc has a 12 month low of $36.16 and a 12 month high of $57.58. The firm has a market capitalization of $46.36 billion, a price-to-earnings ratio of 45.93, a PEG ratio of 0.99 and a beta of 1.19.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.52. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. The company had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.25 billion. During the same period last year, the business earned $1.04 earnings per share. As a group, equities analysts expect that American International Group Inc will post 4.99 EPS for the current fiscal year.

American International Group Profile

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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