Pacer Advisors Inc. Boosts Stock Holdings in American International Group, Inc. $AIG

Pacer Advisors Inc. grew its holdings in American International Group, Inc. (NYSE:AIG) by 49.0% in the 4th quarter, HoldingsChannel reports. The firm owned 66,480 shares of the insurance provider’s stock after buying an additional 21,874 shares during the quarter. Pacer Advisors Inc.’s holdings in American International Group were worth $5,687,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Modus Advisors LLC bought a new position in shares of American International Group during the fourth quarter valued at approximately $27,000. Navalign LLC bought a new position in American International Group in the fourth quarter worth approximately $29,000. Mcguire Capital Advisors Inc. purchased a new stake in American International Group during the fourth quarter worth $29,000. Aventura Private Wealth LLC purchased a new stake in American International Group during the fourth quarter worth $39,000. Finally, Jessup Wealth Management Inc bought a new stake in American International Group during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 3.1%

Shares of AIG stock opened at $76.30 on Tuesday. The stock’s fifty day moving average price is $75.88 and its 200 day moving average price is $77.35. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a market cap of $40.46 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 0.68 and a beta of 0.52. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG) last released its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.22. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period last year, the business posted $1.17 earnings per share. On average, research analysts expect that American International Group, Inc. will post 7.99 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Monday, June 15th. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is 35.27%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AIG. Morgan Stanley cut their price target on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Bank of America dropped their price objective on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. UBS Group lifted their target price on American International Group from $92.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. reduced their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a report on Monday, April 20th. Finally, Keefe, Bruyette & Woods increased their price target on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.78.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.