Pzena Investment Management LLC Boosts Position in American International Group, Inc. $AIG

Pzena Investment Management LLC boosted its holdings in American International Group, Inc. (NYSE:AIG) by 2.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 449,749 shares of the insurance provider’s stock after purchasing an additional 9,418 shares during the quarter. Pzena Investment Management LLC owned about 0.08% of American International Group worth $33,844,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of American International Group by 2.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock valued at $434,000 after buying an additional 129 shares in the last quarter. Westwood Holdings Group Inc. grew its position in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider’s stock valued at $396,000 after buying an additional 130 shares during the last quarter. Larson Financial Group LLC raised its stake in American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock worth $107,000 after acquiring an additional 140 shares in the last quarter. One Wealth Capital Management LLC lifted its position in American International Group by 3.7% in the third quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 144 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in American International Group by 8.1% in the fourth quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider’s stock valued at $164,000 after acquiring an additional 144 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Stock Performance

Shares of AIG opened at $76.56 on Thursday. The stock has a market capitalization of $40.59 billion, a P/E ratio of 13.50, a P/E/G ratio of 0.68 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.29. The company’s fifty day moving average is $75.60 and its two-hundred day moving average is $77.22.

American International Group (NYSE:AIG) last issued its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.22. The business had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.03 billion. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same quarter in the previous year, the firm earned $1.17 earnings per share. On average, sell-side analysts predict that American International Group, Inc. will post 7.98 earnings per share for the current year.

American International Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Monday, June 15th were issued a dividend of $0.50 per share. This is a boost from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Monday, June 15th. American International Group’s dividend payout ratio is currently 35.27%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. The Goldman Sachs Group raised their price objective on American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley reduced their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a report on Monday, April 6th. Weiss Ratings cut American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, June 16th. Cantor Fitzgerald raised their price target on American International Group from $81.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Finally, Barclays lifted their price target on American International Group from $78.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, American International Group has an average rating of “Hold” and a consensus target price of $87.94.

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.