State of New Jersey Common Pension Fund D Has $18.04 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

State of New Jersey Common Pension Fund D lessened its position in shares of American International Group, Inc. (NYSE:AIG) by 37.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,024 shares of the insurance provider’s stock after selling 145,862 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in American International Group were worth $18,042,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AIG. Norges Bank acquired a new position in shares of American International Group during the fourth quarter valued at $746,005,000. Swedbank AB acquired a new position in shares of American International Group during the first quarter valued at $99,951,000. Canada Pension Plan Investment Board lifted its stake in shares of American International Group by 98.9% during the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after acquiring an additional 941,607 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock valued at $82,772,000 after acquiring an additional 597,661 shares during the period. Finally, Third Point LLC lifted its stake in shares of American International Group by 16.9% during the fourth quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock valued at $233,738,000 after acquiring an additional 500,000 shares during the period. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the completion of the transaction, the insider now directly owns 284,238,898 shares of the company’s stock, valued at $7,077,548,560.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is owned by corporate insiders.

American International Group Stock Up 1.4 %

Shares of American International Group stock opened at $73.20 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The company has a market capitalization of $48.58 billion, a P/E ratio of 10.93, a price-to-earnings-growth ratio of 3.58 and a beta of 1.06. American International Group, Inc. has a 1 year low of $57.72 and a 1 year high of $80.83. The business has a 50-day moving average of $74.83 and a two-hundred day moving average of $75.63.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.19%. American International Group’s payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company cut their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Citigroup cut their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 11th. Finally, Barclays began coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $83.88.

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.