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

Pzena Investment Management LLC raised its position in American International Group, Inc. (NYSE:AIG) by 2.7% during the third quarter, HoldingsChannel.com reports. The firm owned 441,103 shares of the insurance provider’s stock after purchasing an additional 11,734 shares during the period. Pzena Investment Management LLC’s holdings in American International Group were worth $34,644,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Westfuller Advisors LLC bought a new stake in shares of American International Group during the 3rd quarter worth approximately $26,000. Atlantic Union Bankshares Corp grew its position in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after acquiring an additional 355 shares during the last quarter. Eastern Bank increased its stake in American International Group by 2,473.3% in the third quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares during the period. Twin Peaks Wealth Advisors LLC bought a new stake in shares of American International Group during the second quarter worth $32,000. Finally, NewSquare Capital LLC boosted its stake in shares of American International Group by 58.6% during the second quarter. NewSquare Capital LLC now owns 417 shares of the insurance provider’s stock valued at $36,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank Of Canada assumed coverage on shares of American International Group in a report on Tuesday, November 25th. They issued a “sector perform” rating and a $85.00 price target on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. Cantor Fitzgerald raised their target price on shares of American International Group from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays decreased their price target on shares of American International Group from $81.00 to $79.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 11th. Finally, HSBC increased their price objective on American International Group from $86.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average price target of $87.58.

American International Group Price Performance

Shares of AIG opened at $79.78 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The company has a 50 day moving average price of $78.95 and a 200-day moving average price of $78.87. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $88.07. The stock has a market capitalization of $42.81 billion, a PE ratio of 14.72, a PEG ratio of 0.61 and a beta of 0.61.

American International Group (NYSE:AIG) last issued 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 company had revenue of $6.55 billion for the quarter, compared to analyst estimates of $6.99 billion. American International Group had a net margin of 11.56% and a return on equity of 9.79%. During the same period last year, the company posted $1.30 earnings per share. Equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend 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 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.