Employees Retirement System of Texas Grows Stock Holdings in American International Group, Inc. $AIG

by · The Cerbat Gem

Employees Retirement System of Texas lifted its position in American International Group, Inc. (NYSE:AIG – Free Report) by 10.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,341 shares of the insurance provider’s stock after buying an additional 14,403 shares during the quarter. Employees Retirement System of Texas’ holdings in American International Group were worth $13,124,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GFG Capital LLC acquired a new position in American International Group in the 2nd quarter valued at about $33,000. Barrett & Company Inc. purchased a new position in shares of American International Group in the second quarter valued at approximately $35,000. NewSquare Capital LLC grew its holdings in shares of American International Group by 58.6% in the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 154 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in American International Group during the 2nd quarter worth approximately $40,000. Finally, Hemington Wealth Management increased its stake in American International Group by 42.8% during the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after buying an additional 142 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 0.2%

NYSE:AIG opened at $74.98 on Wednesday. The stock has a 50-day simple moving average of $78.48 and a 200-day simple moving average of $80.72. The stock has a market cap of $40.46 billion, a P/E ratio of 14.20, a P/E/G ratio of 0.77 and a beta of 0.73. American International Group, Inc. has a 1 year low of $69.24 and a 1 year high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63.

American International Group (NYSE:AIG – Get Free Report) last issued its earnings results on Wednesday, November 5th. The insurance provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.63. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.82 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter last year, the company earned $1.23 EPS. As a group, analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. American International Group’s dividend payout ratio (DPR) is presently 32.73%.

Wall Street Analyst Weigh In

Several research firms have commented on AIG. Bank of America boosted their price target on shares of American International Group from $88.00 to $94.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Royal Bank Of Canada started coverage on American International Group in a research note on Tuesday. They set a “sector perform” rating and a $85.00 target price for the company. Barclays increased their price target on American International Group from $93.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Keefe, Bruyette & Woods lowered their price objective on American International Group from $97.00 to $91.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Finally, Wall Street Zen lowered shares of American International Group from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, American International Group currently has an average rating of “Moderate Buy” and a consensus target price of $89.44.

Read Our Latest Stock Report on American International Group

American International Group Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AIG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American International Group, Inc. (NYSE:AIG – Free Report).