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

Key Points

• Pzena Investment Management increased its AIG holdings by 2.8% in the third quarter, adding 12,756 shares to reach 469,375 shares valued at about $34.9 million.
• AIG reported quarterly EPS of $2.06, beating the $1.88 consensus, while revenue of $7.44 billion slightly exceeded expectations. Elevated catastrophe losses weighed on results, including a 29% year-over-year decline in General Insurance underwriting income.
• Analysts’ consensus rating is Hold, with an average price target of $87.68. AIG also declared a quarterly dividend of $0.50 per share, or $2.00 annualized.

Pzena Investment Management LLC lifted its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,375 shares of the insurance provider's stock after buying an additional 12,756 shares during the period. Pzena Investment Management LLC owned about 0.09% of American International Group worth $34,931,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Bancorp Inc ME bought a new position in American International Group in the second quarter valued at approximately $30,000. Fiduciary Financial Advisors acquired a new position in shares of American International Group during the 2nd quarter worth approximately $34,000. Center for Financial Planning Inc. increased its position in shares of 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 purchasing an additional 156 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in shares of American International Group by 71.6% during the 3rd quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider's stock worth $41,000 after purchasing an additional 232 shares in the last quarter. Finally, Cedar Mountain Advisors LLC bought a new stake in shares of American International Group during the 1st quarter worth approximately $50,000. Institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on AIG. Barclays increased their price objective on American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of American International Group in a research report on Tuesday, September 29th. UBS Group upped their price target 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. Cantor Fitzgerald cut their price target on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $96.00 to $90.00 and set an "outperform" rating for the company in a research report on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, American International Group has a consensus rating of "Hold" and an average price target of $87.68.

American International Group Price Performance

NYSE:AIG opened at $81.60 on Thursday. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The firm has a market capitalization of $42.67 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 0.84 and a beta of 0.48. The stock's 50 day moving average price is $77.36 and its two-hundred day moving average price is $76.87. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The insurance provider reported $2.06 EPS for the quarter, topping the consensus estimate of $1.88 by $0.18. The company had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.42 billion. American International Group had a return on equity of 10.73% and a net margin of 11.86%. During the same period in the previous year, the company posted $2.20 EPS. On average, analysts anticipate that American International Group, Inc. will post 8.07 earnings per share for the current year.

American International Group Announces Dividend

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

Trending Headlines about 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%

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the company's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares in the company, valued at $45,333,939.51. The trade was a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

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.

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