Virginia Retirement Systems ET AL Acquires 74,400 Shares of American International Group Inc (NYSE:AIG)

Virginia Retirement Systems ET AL grew its holdings in shares of American International Group Inc (NYSE:AIG) by 50.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,900 shares of the insurance provider’s stock after buying an additional 74,400 shares during the period. Virginia Retirement Systems ET AL’s holdings in American International Group were worth $11,823,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AIG. OLD National Bancorp IN boosted its stake in American International Group by 0.9% in the 2nd quarter. OLD National Bancorp IN now owns 24,491 shares of the insurance provider’s stock worth $1,305,000 after purchasing an additional 230 shares in the last quarter. Cornerstone Advisors Inc. boosted its stake in American International Group by 16.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,083 shares of the insurance provider’s stock worth $90,000 after purchasing an additional 295 shares in the last quarter. Hartford Investment Management Co. boosted its stake in American International Group by 0.3% in the 2nd quarter. Hartford Investment Management Co. now owns 97,327 shares of the insurance provider’s stock worth $5,186,000 after purchasing an additional 306 shares in the last quarter. AMG National Trust Bank boosted its stake in American International Group by 0.3% in the 1st quarter. AMG National Trust Bank now owns 123,260 shares of the insurance provider’s stock worth $5,307,000 after purchasing an additional 323 shares in the last quarter. Finally, Signaturefd LLC boosted its stake in American International Group by 11.0% in the 1st quarter. Signaturefd LLC now owns 3,326 shares of the insurance provider’s stock worth $143,000 after purchasing an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 90.06% of the company’s stock.

In other American International Group news, Director Therese M. Vaughan bought 1,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $51.71 per share, with a total value of $51,710.00. Following the transaction, the director now owns 1,000 shares in the company, valued at $51,710. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by insiders.

NYSE:AIG traded down $0.76 during mid-day trading on Wednesday, reaching $53.62. The company’s stock had a trading volume of 1,593,928 shares, compared to its average volume of 3,228,087. American International Group Inc has a 12-month low of $36.16 and a 12-month high of $57.58. The firm’s fifty day simple moving average is $54.93. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $46.36 billion, a PE ratio of 45.83, a P/E/G ratio of 0.99 and a beta of 1.19.

American International Group (NYSE:AIG) last issued its earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The business had revenue of $12.90 billion during the quarter, compared to analyst estimates of $12.25 billion. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, sell-side analysts anticipate that American International Group Inc will post 4.99 EPS for the current year.

A number of equities analysts recently issued reports on the stock. Wells Fargo & Co upped their price target on shares of American International Group from $57.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, July 11th. Barclays upped their price target on shares of American International Group from $50.00 to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 22nd. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Sunday, July 7th. Deutsche Bank cut shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 price target on the stock. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Morgan Stanley upped their price target on shares of American International Group from $57.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. American International Group presently has an average rating of “Buy” and a consensus price target of $55.86.

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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