Pallas Capital Advisors LLC Acquires New Holdings in American International Group, Inc. (NYSE:AIG)

Pallas Capital Advisors LLC bought a new position in American International Group, Inc. (NYSE:AIG) during the 3rd quarter, HoldingsChannel reports. The firm bought 3,413 shares of the insurance provider’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Forum Financial Management LP grew its stake in American International Group by 1.1% in the second quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after acquiring an additional 128 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of American International Group by 5.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock valued at $210,000 after buying an additional 136 shares during the period. Quent Capital LLC boosted its holdings in shares of American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after buying an additional 146 shares during the period. New Republic Capital LLC increased its position in shares of American International Group by 5.2% during the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after acquiring an additional 164 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of American International Group by 2.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock worth $477,000 after acquiring an additional 165 shares during the period. 90.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

AIG has been the subject of a number of research analyst reports. Piper Sandler reduced their target price on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Barclays started coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective for the company. Jefferies Financial Group boosted their target price on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Citigroup cut their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.38.

American International Group Price Performance

Shares of NYSE AIG opened at $75.72 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average price is $75.09 and its two-hundred day moving average price is $75.58. The company has a market cap of $48.76 billion, a PE ratio of -58.70, a price-to-earnings-growth ratio of 5.29 and a beta of 1.06. American International Group, Inc. has a twelve month low of $62.52 and a twelve month high of $80.83.

American International Group (NYSE:AIG) last posted its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same period in the previous year, the firm posted $1.75 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. On average, analysts predict that American International Group, Inc. will post 4.99 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

About American International Group

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.