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

Pacer Advisors Inc. increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 108.4% in the third quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the last quarter. OFI Invest Asset Management grew its holdings in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock valued at $710,000 after buying an additional 9,805 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in American International Group by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after acquiring an additional 10,581 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of American International Group during the 3rd quarter worth approximately $494,000. Finally, Victory Capital Management Inc. raised its holdings in shares of American International Group by 6.1% during the 2nd quarter. Victory Capital Management Inc. now owns 939,494 shares of the insurance provider’s stock worth $69,748,000 after acquiring an additional 54,419 shares in the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

American International Group Stock Performance

American International Group stock opened at $76.06 on Friday. 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 company has a market capitalization of $47.44 billion, a PE ratio of -22.44, a P/E/G ratio of 7.52 and a beta of 1.05. The company has a 50 day moving average price of $75.50 and a 200-day moving average price of $75.59. American International Group, Inc. has a fifty-two week low of $64.54 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business earned $1.61 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio (DPR) is -47.20%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AIG shares. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price target for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Piper Sandler decreased their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. UBS Group boosted their price objective on American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, TD Cowen lowered their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and an average 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.