Pzena Investment Management LLC Purchases 11,734 Shares of American International Group, Inc. $AIG

Pzena Investment Management LLC lifted its position in American International Group, Inc. (NYSE:AIG) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441,103 shares of the insurance provider’s stock after purchasing an additional 11,734 shares during the period. Pzena Investment Management LLC owned about 0.08% of American International Group worth $34,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of AIG. Vise Technologies Inc. purchased a new stake in shares of American International Group during the second quarter worth about $858,000. Jupiter Asset Management Ltd. purchased a new position in American International Group in the 2nd quarter worth approximately $6,127,000. Meeder Asset Management Inc. boosted its stake in American International Group by 88.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider’s stock worth $4,580,000 after purchasing an additional 27,431 shares during the period. AlphaQuest LLC bought a new position in American International Group in the 3rd quarter worth approximately $2,724,000. Finally, Allstate Corp purchased a new stake in American International Group during the 3rd quarter valued at approximately $1,689,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the topic of several research analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a report on Monday, December 29th. HSBC boosted their price target on shares of American International Group from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Evercore cut their price objective on American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. The Goldman Sachs Group boosted their target price on American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Finally, Mizuho increased their price target on American International Group from $83.00 to $86.00 and gave the company a “neutral” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $87.58.

American International Group Trading Up 0.5%

Shares of NYSE AIG opened at $79.78 on Thursday. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $88.07. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The business’s 50 day moving average is $78.95 and its two-hundred day moving average is $78.87. The stock has a market capitalization of $42.81 billion, a P/E ratio of 14.72, a PEG ratio of 0.61 and a beta of 0.61.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.06. The business had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.99 billion. American International Group had a return on equity of 9.79% and a net margin of 11.56%.During the same period last year, the company earned $1.30 EPS. As a group, research analysts expect that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, March 16th. American International Group’s payout ratio is presently 33.21%.

American International Group Company 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.