Pzena Investment Management LLC Grows Stake in American International Group, Inc. (NYSE:AIG)

Pzena Investment Management LLC raised its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 2.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 488,074 shares of the insurance provider's stock after buying an additional 12,254 shares during the quarter. Pzena Investment Management LLC owned about 0.08% of American International Group worth $42,433,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Trust Investment Advisors purchased a new stake in American International Group in the first quarter worth approximately $215,000. Parcion Private Wealth LLC purchased a new stake in American International Group in the first quarter worth approximately $327,000. Larson Financial Group LLC boosted its stake in American International Group by 1,597.1% in the first quarter. Larson Financial Group LLC now owns 3,564 shares of the insurance provider's stock worth $310,000 after buying an additional 3,354 shares in the last quarter. PAX Financial Group LLC purchased a new stake in American International Group in the first quarter worth approximately $271,000. Finally, Wealthfront Advisers LLC boosted its stake in American International Group by 5.9% in the first quarter. Wealthfront Advisers LLC now owns 75,219 shares of the insurance provider's stock worth $6,540,000 after buying an additional 4,188 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AIG. Jefferies Financial Group upped their target price on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Morgan Stanley boosted their price objective on American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, May 19th. Finally, Evercore ISI boosted their price objective on American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.12.

American International Group Trading Up 0.0%

Shares of American International Group stock traded up $0.01 during midday trading on Thursday, reaching $81.00. 3,996,950 shares of the company's stock traded hands, compared to its average volume of 4,378,337. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. The company has a market cap of $46.68 billion, a PE ratio of -30.45, a price-to-earnings-growth ratio of 0.89 and a beta of 0.63. The stock has a 50 day moving average of $83.77 and a 200-day moving average of $80.43. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.13. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period in the prior year, the firm earned $1.25 earnings per share. As a group, equities analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, June 13th. This is an increase from American International Group's previous quarterly dividend of $0.40. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.22%. American International Group's dividend payout ratio is currently -67.67%.

Insider Buying and Selling at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president directly owned 21,400 shares of the company's stock, valued at $1,781,764. This represents a 68.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.50% of the stock is owned by corporate insiders.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.