New York State Common Retirement Fund Sells 117,700 Shares of American International Group, Inc. (NYSE:AIG)

New York State Common Retirement Fund cut its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 8.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,198,110 shares of the insurance provider's stock after selling 117,700 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of American International Group worth $87,738,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in American International Group by 348.6% during the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider's stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management raised its holdings in shares of American International Group by 2,208.3% during the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider's stock valued at $710,000 after acquiring an additional 9,805 shares during the period. Bessemer Group Inc. raised its holdings in shares of American International Group by 64.3% during the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider's stock valued at $2,227,000 after acquiring an additional 11,149 shares during the period. Coronation Fund Managers Ltd. acquired a new stake in shares of American International Group during the first quarter valued at approximately $1,367,000. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of American International Group by 19.0% during the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider's stock valued at $12,206,000 after acquiring an additional 24,906 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Down 0.2 %

Shares of AIG traded down $0.16 during mid-day trading on Friday, hitting $75.72. 3,416,299 shares of the company's stock were exchanged, compared to its average volume of 4,077,205. The firm has a fifty day moving average of $75.09 and a two-hundred day moving average of $75.59. American International Group, Inc. has a twelve month low of $62.52 and a twelve month high of $80.83. The stock has a market cap of $48.76 billion, a price-to-earnings ratio of -58.70, a P/E/G ratio of 5.29 and a beta of 1.05. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.14). The firm had revenue of $1.00 million for the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. American International Group's quarterly revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $1.75 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 4.99 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays assumed coverage on shares of American International Group in a report on Wednesday, September 4th. They set an "overweight" rating and a $90.00 price target on the stock. JPMorgan Chase & Co. upgraded shares of American International Group from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $93.00 to $89.00 in a research note on Thursday, October 10th. Evercore ISI dropped their price objective on shares of American International Group from $79.00 to $78.00 and set an "in-line" rating on the stock in a research note on Wednesday, October 9th. TD Cowen dropped their price objective on shares of American International Group from $83.00 to $80.00 and set a "hold" rating on the stock in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $84.38.

Insider Buying and Selling

In related news, major shareholder International Group American sold 8,032,129 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares of the company's stock, valued at approximately $7,077,548,560.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

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.