State of New Jersey Common Pension Fund D Cuts Stake in American International Group, Inc. (NYSE:AIG)

State of New Jersey Common Pension Fund D trimmed its position in American International Group, Inc. (NYSE:AIG - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 226,128 shares of the insurance provider's stock after selling 10,781 shares during the period. State of New Jersey Common Pension Fund D's holdings in American International Group were worth $16,462,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AIG. Creative Planning grew its stake in American International Group by 20.6% in the third quarter. Creative Planning now owns 50,014 shares of the insurance provider's stock worth $3,663,000 after purchasing an additional 8,556 shares during the period. NBC Securities Inc. grew its stake in shares of American International Group by 241.6% in the third quarter. NBC Securities Inc. now owns 673 shares of the insurance provider's stock worth $49,000 after acquiring an additional 476 shares during the last quarter. Blue Trust Inc. grew its stake in shares of American International Group by 181.0% in the third quarter. Blue Trust Inc. now owns 4,019 shares of the insurance provider's stock worth $298,000 after acquiring an additional 2,589 shares during the last quarter. OLD National Bancorp IN purchased a new stake in shares of American International Group in the third quarter worth $432,000. Finally, Cetera Trust Company N.A grew its stake in shares of American International Group by 397.4% in the third quarter. Cetera Trust Company N.A now owns 11,569 shares of the insurance provider's stock worth $847,000 after acquiring an additional 9,243 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Stock Performance

AIG stock traded up $0.47 during trading on Friday, reaching $76.72. The stock had a trading volume of 5,936,218 shares, compared to its average volume of 4,074,586. American International Group, Inc. has a 52 week low of $68.65 and a 52 week high of $80.83. The stock's 50 day moving average is $73.68 and its two-hundred day moving average is $74.49. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market cap of $45.52 billion, a PE ratio of -36.88, a PEG ratio of 0.98 and a beta of 1.05.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, equities analysts anticipate that American International Group, Inc. will post 6.32 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, March 17th. American International Group's dividend payout ratio is -76.92%.

Insider Transactions at American International Group

In related news, Director John G. Rice acquired 10,000 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company's stock, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AIG. UBS Group cut their target price on American International Group from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Tuesday. StockNews.com raised American International Group from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. cut their target price on American International Group from $89.00 to $83.00 and set an "overweight" rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group reissued a "neutral" rating and issued a $79.00 target price (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $83.94.

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.