Retirement Systems of Alabama Has $10.29 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Retirement Systems of Alabama lowered its position in shares of American International Group, Inc. (NYSE:AIG) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 140,520 shares of the insurance provider’s stock after selling 5,879 shares during the period. Retirement Systems of Alabama’s holdings in American International Group were worth $10,290,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new position in shares of American International Group in the 3rd quarter valued at $26,000. Y.D. More Investments Ltd acquired a new position in American International Group in the second quarter valued at about $27,000. True Wealth Design LLC acquired a new position in American International Group in the third quarter valued at about $29,000. Continuum Advisory LLC raised its position in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 207 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of American International Group during the 3rd quarter valued at about $46,000. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE AIG opened at $72.09 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $76.00 and a 200 day moving average price of $75.14. The stock has a market capitalization of $44.97 billion, a PE ratio of -21.27, a price-to-earnings-growth ratio of 7.30 and a beta of 1.05. American International Group, Inc. has a 52 week low of $65.78 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the prior year, the firm posted $1.61 EPS. Analysts predict that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.40 per share. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.22%. American International Group’s dividend payout ratio is presently -47.20%.

Analyst Ratings Changes

AIG has been the subject of a number of research reports. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Bank of America boosted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Evercore ISI lowered their target price on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Finally, StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $84.80.

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.