American International Group, Inc. $AIG Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC increased its stake in shares of American International Group, Inc. (NYSE:AIG) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 449,749 shares of the insurance provider’s stock after acquiring an additional 9,418 shares during the period. Pzena Investment Management LLC’s holdings in American International Group were worth $33,844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Modus Advisors LLC purchased a new stake in shares of American International Group during the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in American International Group in the 4th quarter valued at approximately $29,000. Mcguire Capital Advisors Inc. purchased a new position in American International Group in the 4th quarter valued at approximately $29,000. SHP Wealth Management acquired a new position in American International Group during the fourth quarter worth $34,000. Finally, CENTRAL TRUST Co boosted its position in American International Group by 48.7% during the first quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AIG shares. Morgan Stanley lowered their target price on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Mizuho boosted their price objective on shares of American International Group from $84.00 to $86.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Bank of America lowered their price objective on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings downgraded shares of American International Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, June 16th. Finally, HSBC lifted their target price on shares of American International Group from $89.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, American International Group has a consensus rating of “Hold” and a consensus target price of $87.94.

American International Group Stock Performance

American International Group stock opened at $76.56 on Thursday. The stock has a fifty day moving average price of $75.60 and a 200 day moving average price of $77.22. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The firm has a market capitalization of $40.59 billion, a P/E ratio of 13.50, a PEG ratio of 0.68 and a beta of 0.53. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.23.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. American International Group had a return on equity of 10.93% and a net margin of 11.86%.During the same period last year, the company earned $1.17 EPS. Equities research analysts anticipate that American International Group, Inc. will post 7.98 earnings per share for the current year.

American International Group Increases Dividend

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

About American International Group

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.