12,756 American International Group, Inc. $AIG Shares Bought by Pzena Investment Management LLC

Pzena Investment Management LLC lifted its position in shares of American International Group, Inc. (NYSE:AIG) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 469,375 shares of the insurance provider’s stock after buying an additional 12,756 shares during the quarter. Pzena Investment Management LLC’s holdings in American International Group were worth $34,931,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. L2 Asset Management LLC boosted its stake in American International Group by 4.8% in the 2nd quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock valued at $227,000 after purchasing an additional 139 shares during the period. Center for Financial Planning Inc. increased its position in American International Group by 52.0% during the 3rd quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider’s stock worth $34,000 after buying an additional 156 shares during the period. Parkside Financial Bank & Trust increased its position in American International Group by 7.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,333 shares of the insurance provider’s stock worth $174,000 after buying an additional 158 shares during the period. Integrated Advisors Network LLC lifted its holdings in shares of American International Group by 1.3% during the third quarter. Integrated Advisors Network LLC now owns 13,542 shares of the insurance provider’s stock worth $1,008,000 after buying an additional 176 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of American International Group by 3.9% during the third quarter. Wedbush Securities Inc. now owns 4,740 shares of the insurance provider’s stock worth $353,000 after buying an additional 176 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AIG has been the topic of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of American International Group in a research note on Tuesday, September 29th. Wells Fargo & Company dropped their price objective on shares of American International Group from $85.00 to $83.00 and set an “equal weight” rating for the company in a research note on Monday, October 12th. Argus reissued a “buy” rating and issued a $90.00 price objective on shares of American International Group in a report on Wednesday, September 2nd. Morgan Stanley cut their price objective on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, October 6th. Finally, UBS Group increased their target price on shares of American International Group from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. Eight research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $87.68.

Key Stories Impacting American International Group

Here are the key news stories impacting American International Group this week:

• Positive Sentiment: AIG earned adjusted EPS of $2.06, above analyst estimates of $1.88, while revenue of $7.44 billion also narrowly topped expectations. Broad-based premium growth and higher investment income supported results. AIG Q3 Earnings Beat Estimates on Strong Premium Growth
• Positive Sentiment: Management highlighted continued premium growth, profitability and progress toward its financial objectives on the earnings call, reinforcing the view that underwriting and business momentum remain constructive. AIG Earnings Call Highlights Growth and Underwriting Strength
• Positive Sentiment: AIG declared a quarterly dividend of $0.50 per share, equivalent to $2.00 annualized, supporting shareholder returns. AIG dividend announcement
• Negative Sentiment: Elevated catastrophe losses weighed on results, and General Insurance underwriting income fell 29% year over year, tempering the strong headline earnings beat. AIG’s General Insurance Q3 Underwriting Income Down 29%

American International Group Stock Performance

NYSE:AIG opened at $81.60 on Thursday. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.84 and a beta of 0.48. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. 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 stock has a fifty day moving average price of $77.36 and a 200-day moving average price of $76.87.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.88 by $0.18. American International Group had a net margin of 11.86% and a return on equity of 10.73%. The business had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the prior year, the company earned $2.20 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 8.07 EPS for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. American International Group’s dividend payout ratio is currently 36.56%.

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.