Pacer Advisors Inc. Has $2.63 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Pacer Advisors Inc. has reduced its stake in American International Group (AIG) by 39.3%, selling 19,583 shares, and now holds 30,294 shares valued at approximately $2.6 million.
• American International Group declared a new quarterly dividend of $0.45, which is an increase from the previous $0.40 dividend, reflecting a 2.28% dividend yield.
• Analysts have set a new average price target of $88.19 for AIG, with the stock rated as a "Moderate Buy" by several research firms.

Pacer Advisors Inc. reduced its position in American International Group, Inc. (NYSE:AIG - Free Report) by 39.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,294 shares of the insurance provider's stock after selling 19,583 shares during the period. Pacer Advisors Inc.'s holdings in American International Group were worth $2,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors grew its stake in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider's stock worth $2,540,050,000 after purchasing an additional 482,724 shares during the period. Bank of New York Mellon Corp grew its stake in American International Group by 20.4% in the first quarter. Bank of New York Mellon Corp now owns 11,212,788 shares of the insurance provider's stock valued at $974,840,000 after acquiring an additional 1,901,998 shares during the period. Northern Trust Corp grew its stake in American International Group by 16.9% in the fourth quarter. Northern Trust Corp now owns 7,258,648 shares of the insurance provider's stock valued at $528,430,000 after acquiring an additional 1,050,228 shares during the period. Dimensional Fund Advisors LP grew its stake in American International Group by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,915,405 shares of the insurance provider's stock valued at $503,437,000 after acquiring an additional 143,046 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in American International Group by 12.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,813,138 shares of the insurance provider's stock valued at $350,396,000 after acquiring an additional 519,715 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

American International Group Stock Down 0.9%

AIG traded down $0.66 on Friday, hitting $76.97. 4,438,077 shares of the company were exchanged, compared to its average volume of 4,083,866. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07. The company has a market cap of $44.36 billion, a PE ratio of -28.94, a PEG ratio of 0.85 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The stock's fifty day moving average is $83.03 and its 200-day moving average is $81.01.

American International Group (NYSE:AIG - Get Free Report) last released its earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The business had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.89 billion. During the same quarter in the prior year, the company posted $1.25 earnings per share. Equities research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AIG shares. Keefe, Bruyette & Woods boosted their target price on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a research note on Thursday, May 8th. Jefferies Financial Group boosted their target price on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Wells Fargo & Company boosted their target price on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $91.00 price target (up from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Finally, Morgan Stanley boosted their price target on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, American International Group presently has an average rating of "Moderate Buy" and a consensus target price of $88.19.

Insider Transactions at American International Group

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president owned 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by corporate insiders.

American International Group Profile

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.