Illinois Municipal Retirement Fund Reduces Position in American International Group, Inc. (NYSE:AIG)

Illinois Municipal Retirement Fund trimmed its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 9.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,104 shares of the insurance provider's stock after selling 13,717 shares during the period. Illinois Municipal Retirement Fund's holdings in American International Group were worth $9,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AIG. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of American International Group by 32.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,616 shares of the insurance provider's stock worth $2,832,000 after purchasing an additional 9,503 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of American International Group by 29.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,646 shares of the insurance provider's stock worth $2,977,000 after purchasing an additional 9,175 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of American International Group by 1.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 144,616 shares of the insurance provider's stock worth $10,558,000 after purchasing an additional 2,038 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of American International Group by 54.9% in the 3rd quarter. Nisa Investment Advisors LLC now owns 232,327 shares of the insurance provider's stock worth $17,013,000 after purchasing an additional 82,337 shares in the last quarter. Finally, Pallas Capital Advisors LLC purchased a new stake in shares of American International Group in the 3rd quarter worth $265,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 4.0 %

Shares of NYSE:AIG traded up $3.19 during trading on Friday, reaching $82.88. The company's stock had a trading volume of 10,010,490 shares, compared to its average volume of 4,315,091. The stock has a market capitalization of $49.17 billion, a PE ratio of -39.84, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The firm's 50 day simple moving average is $74.51 and its two-hundred day simple moving average is $74.77. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $83.00. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.93%. The ex-dividend date is Monday, March 17th. American International Group's payout ratio is -76.92%.

Insider Activity at American International Group

In other news, Director John G. Rice purchased 10,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at $770,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIG. Keefe, Bruyette & Woods increased their price target on American International Group from $87.00 to $90.00 and gave the stock an "outperform" rating in a research note on Friday, February 14th. StockNews.com upgraded American International Group from a "sell" rating to a "hold" rating in a research note on Friday, November 8th. UBS Group cut their price target on American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. Morgan Stanley increased their price target on American International Group from $75.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. cut their price target on American International Group from $89.00 to $83.00 and set an "overweight" rating for the company in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, American International Group currently has a consensus rating of "Hold" and a consensus price target of $83.94.

About American International Group

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.