Pacer Advisors Inc. Sells 39,614 Shares of American International Group, Inc. $AIG

Pacer Advisors Inc. reduced its stake in American International Group, Inc. (NYSE:AIG) by 59.6% during the first quarter, HoldingsChannel reports. The firm owned 26,866 shares of the insurance provider’s stock after selling 39,614 shares during the quarter. Pacer Advisors Inc.’s holdings in American International Group were worth $2,022,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Modus Advisors LLC bought a new position in American International Group in the 4th quarter valued at approximately $27,000. Navalign LLC bought a new stake in shares of American International Group during the fourth quarter worth $29,000. Mcguire Capital Advisors Inc. acquired a new position in shares of American International Group during the fourth quarter worth $29,000. SHP Wealth Management acquired a new position in shares of American International Group during the fourth quarter worth $34,000. Finally, CENTRAL TRUST Co lifted its stake in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 151 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Key American International Group News

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: Second-quarter earnings exceeded expectations. AIG reported adjusted earnings of $2.00 per share, up from $1.81 a year earlier and ahead of consensus estimates ranging from $1.89 to $1.92. Strong underwriting income and lower catastrophe losses were key drivers. AIG Beats Q2 Earnings Estimates on Robust Underwriting Income
• Positive Sentiment: Premium growth was broad-based. Net premiums written increased across all three of AIG’s business lines, reinforcing management’s view that organic growth and recent strategic transactions are strengthening the company’s diversified insurance platform. AIG Q2 earnings beat as NPW grows across all three lines
• Positive Sentiment: AIG declared a quarterly dividend of $0.50 per share. The dividend is payable September 30 to shareholders of record on September 16, implying $2.00 in annualized payments and a yield of approximately 2.5% based on the referenced share price.
• Neutral Sentiment: Barclays raised its price target modestly to $81 from $80 while maintaining an “equal weight” rating. The revised target suggests limited near-term upside and does not represent a strong bullish endorsement.
• Negative Sentiment: Revenue fell short of expectations. Quarterly revenue was approximately $7.08 billion, below the $7.25 billion consensus forecast. Weaker investment income partly offset the improvement in underwriting results, giving investors a reason to temper their reaction to the earnings beat. AIG quarterly earnings report

American International Group Stock Down 1.5%

American International Group stock opened at $78.80 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The firm has a 50 day moving average price of $77.28 and a two-hundred day moving average price of $76.74. The firm has a market cap of $41.78 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.73 and a beta of 0.53.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.08. American International Group had a net margin of 11.13% and a return on equity of 11.03%. The company had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the prior year, the firm posted $1.81 EPS. Equities analysts predict that American International Group, Inc. will post 7.97 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.5%. American International Group’s payout ratio is presently 35.27%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group boosted their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Wells Fargo & Company lifted their price target on American International Group from $85.00 to $89.00 and gave the company an “equal weight” rating in a research note on Thursday, July 9th. Citigroup boosted their price target on American International Group from $85.00 to $88.00 and gave the stock a “neutral” rating in a report on Monday, May 4th. Mizuho upped their price objective on American International Group from $86.00 to $89.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 2nd. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and a consensus target price of $88.28.

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.