Pacer Advisors Inc. Makes New $2.28 Million Investment in American International Group Inc (NYSE:AIG)

Pacer Advisors Inc. acquired a new position in shares of American International Group Inc (NYSE:AIG) in the 2nd quarter, HoldingsChannel reports. The firm acquired 73,133 shares of the insurance provider’s stock, valued at approximately $2,280,000.

A number of other large investors have also recently bought and sold shares of AIG. Fulton Bank N.A. increased its stake in American International Group by 34.8% during the 1st quarter. Fulton Bank N.A. now owns 13,722 shares of the insurance provider’s stock worth $332,000 after buying an additional 3,541 shares in the last quarter. State of Alaska Department of Revenue increased its stake in American International Group by 7.4% during the 1st quarter. State of Alaska Department of Revenue now owns 305,476 shares of the insurance provider’s stock worth $7,407,000 after buying an additional 21,035 shares in the last quarter. IBM Retirement Fund increased its stake in American International Group by 51.8% during the 1st quarter. IBM Retirement Fund now owns 22,638 shares of the insurance provider’s stock worth $549,000 after buying an additional 7,724 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of American International Group in the first quarter valued at approximately $995,000. Finally, Ellevest Inc. grew its position in shares of American International Group by 10,219.4% in the first quarter. Ellevest Inc. now owns 7,430 shares of the insurance provider’s stock valued at $180,000 after purchasing an additional 7,358 shares in the last quarter. Institutional investors own 90.08% of the company’s stock.

Shares of NYSE AIG opened at $32.14 on Friday. The stock has a market cap of $27.68 billion, a P/E ratio of 10.27, a PEG ratio of 1.24 and a beta of 1.46. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group Inc has a 12-month low of $16.07 and a 12-month high of $58.66. The business’s fifty day simple moving average is $31.18 and its 200-day simple moving average is $34.22.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, May 4th. The insurance provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.72). The company had revenue of $10.92 billion during the quarter, compared to analyst estimates of $11.58 billion. American International Group had a net margin of 8.59% and a return on equity of 4.31%. During the same quarter in the previous year, the business posted $1.58 earnings per share. On average, equities analysts forecast that American International Group Inc will post 2.6 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on the company. Credit Suisse Group restated a “hold” rating on shares of American International Group in a research report on Wednesday, May 6th. William Blair lowered American International Group from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 5th. Deutsche Bank dropped their price target on American International Group from $53.00 to $36.00 and set a “hold” rating for the company in a research report on Tuesday, April 14th. ValuEngine upgraded American International Group from a “sell” rating to a “hold” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lowered their price objective on American International Group from $49.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. American International Group has an average rating of “Hold” and a consensus target price of $44.23.

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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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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