Permanent Capital Management LP Makes New Investment in American International Group, Inc. $AIG

Permanent Capital Management LP purchased a new stake in American International Group, Inc. (NYSE:AIG) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 12,826 shares of the insurance provider’s stock, valued at approximately $1,007,000.

Several other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. bought a new stake in American International Group in the 2nd quarter valued at $858,000. Jupiter Asset Management Ltd. acquired a new position in shares of American International Group in the second quarter valued at $6,127,000. Patton Fund Management Inc. bought a new position in shares of American International Group in the second quarter valued at about $232,000. Allworth Financial LP lifted its stake in shares of American International Group by 132.6% during the 2nd quarter. Allworth Financial LP now owns 12,457 shares of the insurance provider’s stock worth $1,066,000 after buying an additional 7,101 shares during the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of American International Group by 11.5% during the 2nd quarter. Truist Financial Corp now owns 77,757 shares of the insurance provider’s stock worth $6,655,000 after buying an additional 7,997 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Stock Performance

NYSE:AIG opened at $86.48 on Monday. The company has a market cap of $46.66 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.89 and a beta of 0.62. American International Group, Inc. has a fifty-two week low of $69.24 and a fifty-two week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average price of $79.38 and a 200-day moving average price of $80.34.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Wednesday, November 5th. The insurance provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.63. American International Group had a return on equity of 9.09% and a net margin of 11.89%.The company had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.82 billion. During the same quarter last year, the business earned $1.23 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s dividend payout ratio is 32.73%.

Analysts Set New Price Targets

Several brokerages have issued reports on AIG. The Goldman Sachs Group cut their price objective on shares of American International Group from $84.00 to $81.00 and set a “neutral” rating for the company in a research report on Monday, December 8th. Morgan Stanley dropped their price target on American International Group from $85.00 to $84.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of American International Group in a report on Thursday, December 11th. TD Cowen boosted their target price on shares of American International Group from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Tuesday, December 16th. Finally, UBS Group upped their price target on shares of American International Group from $90.00 to $94.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.28.

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.