Kentucky Retirement Systems Insurance Trust Fund Acquires 33,074 Shares of American International Group, Inc. (NYSE:AIG)

Kentucky Retirement Systems Insurance Trust Fund increased its holdings in American International Group, Inc. (NYSE:AIG) by 173.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,140 shares of the insurance provider’s stock after purchasing an additional 33,074 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in American International Group were worth $3,796,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Kestra Investment Management LLC purchased a new position in shares of American International Group in the fourth quarter worth $113,000. Venturi Wealth Management LLC increased its holdings in American International Group by 0.3% in the 4th quarter. Venturi Wealth Management LLC now owns 158,237 shares of the insurance provider’s stock valued at $11,520,000 after acquiring an additional 533 shares during the last quarter. Truist Financial Corp lifted its stake in American International Group by 2.4% in the 4th quarter. Truist Financial Corp now owns 64,633 shares of the insurance provider’s stock worth $4,705,000 after purchasing an additional 1,498 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of American International Group by 2.1% during the 4th quarter. CIBC Asset Management Inc now owns 99,536 shares of the insurance provider’s stock valued at $7,246,000 after purchasing an additional 2,081 shares during the last quarter. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of American International Group during the fourth quarter valued at about $303,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of AIG stock opened at $74.27 on Tuesday. The stock has a 50 day moving average price of $73.44 and a 200 day moving average price of $74.40. American International Group, Inc. has a 52-week low of $68.04 and a 52-week high of $80.83. 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 firm has a market capitalization of $46.33 billion, a P/E ratio of -21.91, a P/E/G ratio of 5.87 and a beta of 1.05.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. As a group, sell-side analysts predict that American International Group, Inc. will post 4.89 earnings per share for the current year.

American International Group Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 2.15%. American International Group’s payout ratio is -47.20%.

Analysts Set New Price Targets

A number of research firms recently commented on AIG. Keefe, Bruyette & Woods boosted their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Friday, November 8th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Wednesday, November 6th. Morgan Stanley lifted their price objective on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a research note on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, American International Group has a consensus rating of “Hold” and a consensus target price of $84.06.

American International Group Company 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.