Pacer Advisors Inc. boosted its position in shares of American International Group Inc (NYSE:AIG) by 10.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 92,666 shares of the insurance provider’s stock after purchasing an additional 9,020 shares during the quarter. Pacer Advisors Inc.’s holdings in American International Group were worth $5,161,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of American International Group by 62.5% in the second quarter. Price T Rowe Associates Inc. MD now owns 69,649,901 shares of the insurance provider’s stock valued at $3,710,946,000 after buying an additional 26,800,863 shares during the period. Nuveen Asset Management LLC bought a new stake in shares of American International Group in the second quarter worth $485,778,000. Clearbridge Investments LLC lifted its position in shares of American International Group by 39.7% in the first quarter. Clearbridge Investments LLC now owns 10,351,337 shares of the insurance provider’s stock worth $445,729,000 after purchasing an additional 2,943,241 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of American International Group by 343.1% in the second quarter. Prudential Financial Inc. now owns 3,576,403 shares of the insurance provider’s stock worth $190,550,000 after purchasing an additional 2,769,272 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. lifted its position in shares of American International Group by 409.1% in the second quarter. Amundi Pioneer Asset Management Inc. now owns 2,686,785 shares of the insurance provider’s stock worth $143,151,000 after purchasing an additional 2,159,082 shares in the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.
Shares of AIG opened at $54.42 on Friday. The firm has a market capitalization of $47.34 billion, a PE ratio of 46.51, a PEG ratio of 1.03 and a beta of 1.19. The company’s 50-day moving average is $54.84 and its 200-day moving average is $52.27. American International Group Inc has a fifty-two week low of $36.16 and a fifty-two week high of $58.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.28 and a quick ratio of 0.28.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 7th. The insurance provider reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.26. American International Group had a negative net margin of 0.24% and a positive return on equity of 2.97%. The company had revenue of $12.16 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Analysts predict that American International Group Inc will post 5.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Tuesday, September 17th were paid a $0.32 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.35%. American International Group’s dividend payout ratio (DPR) is presently 109.40%.
In related news, CEO Seraina Macia sold 7,550 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $56.00, for a total value of $422,800.00. Following the transaction, the chief executive officer now directly owns 11,055 shares in the company, valued at $619,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.10% of the company’s stock.
AIG has been the topic of a number of research reports. Evercore ISI reissued a “hold” rating and issued a $53.00 price objective on shares of American International Group in a research report on Sunday, August 11th. ValuEngine lowered shares of American International Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Morgan Stanley reaffirmed a “buy” rating and set a $63.00 price target on shares of American International Group in a research report on Monday, August 12th. Wells Fargo & Co reaffirmed a “buy” rating and set a $64.00 price target on shares of American International Group in a research report on Thursday, September 19th. Finally, Barclays upped their price target on shares of American International Group from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American International Group has a consensus rating of “Buy” and an average price target of $57.72.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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