Pacer Advisors Inc. Raises Stock Position in American International Group, Inc. (NYSE:AIG)

Pacer Advisors Inc. lifted its stake in American International Group, Inc. (NYSE:AIG) by 108.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,134 shares of the insurance provider’s stock after purchasing an additional 52,614 shares during the period. Pacer Advisors Inc.’s holdings in American International Group were worth $7,406,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EP Wealth Advisors LLC boosted its position in American International Group by 4.9% during the 1st quarter. EP Wealth Advisors LLC now owns 3,536 shares of the insurance provider’s stock valued at $276,000 after acquiring an additional 165 shares in the last quarter. Advisors Asset Management Inc. grew its stake in American International Group by 27.8% in the first quarter. Advisors Asset Management Inc. now owns 17,459 shares of the insurance provider’s stock worth $1,365,000 after purchasing an additional 3,793 shares during the period. LRI Investments LLC purchased a new stake in American International Group in the first quarter worth $112,000. Lazard Asset Management LLC raised its holdings in American International Group by 61.6% in the first quarter. Lazard Asset Management LLC now owns 276,002 shares of the insurance provider’s stock worth $21,574,000 after purchasing an additional 105,218 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in American International Group by 7.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 29,286 shares of the insurance provider’s stock valued at $2,289,000 after buying an additional 1,982 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of AIG opened at $76.06 on Friday. The firm has a market cap of $47.44 billion, a PE ratio of -22.44, a P/E/G ratio of 7.52 and a beta of 1.05. American International Group, Inc. has a 1-year low of $64.54 and a 1-year high of $80.83. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm has a fifty day simple moving average of $75.50 and a two-hundred day simple moving average of $75.59.

American International Group (NYSE:AIG) last posted its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $6.75 billion for 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 company earned $1.61 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 5.13 EPS for the current year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group’s payout ratio is -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. TD Cowen cut their price target on 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. Keefe, Bruyette & Woods dropped their target price on 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 raised their price target on American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, UBS Group increased their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

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.