Todays Report: Today, Pzena Investment Management LLC Sold shares of American International Group Inc. (AIG)

Today, Pzena Investment Management LLC Sold shares of American International Group Inc. (AIG)

Pzena Investment Management LLC cut its stake in shares of American International Group Inc. (NYSE:AIG) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,117,797 shares of the insurance provider’s stock after selling 378,089 shares during the period. American International Group comprises 2.2% of Pzena Investment Management LLC’s portfolio, making the stock its 13th largest position. Pzena Investment Management LLC owned 0.57% of American International Group worth $363,030,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Private Bank & Trust Co. increased its stake in American International Group by 3.4% in the second quarter. Private Bank & Trust Co. now owns 25,963 shares of the insurance provider’s stock valued at $1,373,000 after buying an additional 863 shares during the period. Hexavest Inc. bought a new stake in American International Group during the second quarter valued at $54,956,000. Eqis Capital Management Inc. increased its stake in American International Group by 3.8% in the second quarter. Eqis Capital Management Inc. now owns 7,852 shares of the insurance provider’s stock valued at $415,000 after buying an additional 288 shares during the period. Windward Capital Management Co. CA increased its stake in American International Group by 0.6% in the second quarter. Windward Capital Management Co. CA now owns 92,463 shares of the insurance provider’s stock valued at $4,890,000 after buying an additional 562 shares during the period. Finally, Balasa Dinverno & Foltz LLC increased its stake in American International Group by 13.8% in the second quarter. Balasa Dinverno & Foltz LLC now owns 36,509 shares of the insurance provider’s stock valued at $1,931,000 after buying an additional 4,440 shares during the period. 86.11% of the stock is owned by hedge funds and other institutional investors.

American International Group Inc. (NYSE:AIG) opened at 64.33 on Friday. American International Group Inc. has a 1-year low of $48.41 and a 1-year high of $64.72. The firm has a 50-day moving average of $61.24 and a 200-day moving average of $57.71. The stock has a market cap of $66.08 billion, a PE ratio of 209.54 and a beta of 1.37.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, November 2nd. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.02. American International Group had a net margin of 0.66% and a return on equity of 1.82%. During the same period in the prior year, the business earned $0.52 EPS. Analysts expect that American International Group Inc. will post $3.77 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 8th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Tuesday, December 6th. American International Group’s payout ratio is 290.92%.

A number of brokerages have recently issued reports on AIG. Credit Suisse Group AG set a $60.00 price objective on shares of American International Group and gave the company a “hold” rating in a report on Monday, September 12th. Vetr upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $67.85 price objective for the company in a report on Tuesday, November 1st. Deutsche Bank AG lifted their price objective on shares of American International Group from $58.00 to $59.00 and gave the company a “hold” rating in a report on Wednesday, August 3rd. Barclays PLC lifted their price objective on shares of American International Group from $60.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, September 30th. Finally, Morgan Stanley set a $63.00 price objective on shares of American International Group and gave the company a “hold” rating in a report on Wednesday, August 3rd. Eight research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. American International Group has an average rating of “Buy” and a consensus target price of $65.17.

American International Group Company Profile

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