Pzena Investment Management LLC raised its stake in American International Group Inc (NYSE:AIG) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,460,619 shares of the insurance provider’s stock after buying an additional 71,469 shares during the period. American International Group comprises about 2.2% of Pzena Investment Management LLC’s investment portfolio, making the stock its 12th largest position. Pzena Investment Management LLC owned about 0.70% of American International Group worth $403,918,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AIG. Israel Discount Bank of New York acquired a new position in shares of American International Group during the first quarter valued at approximately $145,000. Peddock Capital Advisors LLC increased its position in shares of American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC increased its position in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the last quarter. FTB Advisors Inc. increased its position in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the last quarter. Finally, Lincoln National Corp acquired a new position in shares of American International Group during the first quarter valued at approximately $202,000. 87.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of American International Group Inc (AIG) traded down 0.47% during mid-day trading on Monday, hitting $61.05. 396,847 shares of the company’s stock traded hands. American International Group Inc has a 52 week low of $57.35 and a 52 week high of $67.47. The company’s market cap is $55.15 billion. The firm has a 50-day moving average of $63.93 and a 200 day moving average of $62.98.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.33. American International Group had a net margin of 8.84% and a return on equity of 6.09%. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Equities research analysts predict that American International Group Inc will post $5.28 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th. American International Group’s dividend payout ratio is currently -711.07%.

American International Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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AIG has been the subject of several research analyst reports. TheStreet upgraded shares of American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Royal Bank Of Canada restated a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research report on Monday, April 24th. Wells Fargo & Company restated a “buy” rating on shares of American International Group in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, July 5th. Finally, BidaskClub upgraded shares of American International Group from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. American International Group presently has a consensus rating of “Buy” and a consensus target price of $69.02.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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