Ritholtz Wealth Management Acquires 1,862 Shares of American International Group, Inc. (NYSE:AIG)

Ritholtz Wealth Management raised its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,762 shares of the insurance provider’s stock after acquiring an additional 1,862 shares during the quarter. Ritholtz Wealth Management’s holdings in American International Group were worth $2,558,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of American International Group during the third quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of American International Group in the third quarter valued at approximately $32,000. CNB Bank purchased a new stake in shares of American International Group in the third quarter valued at approximately $42,000. SouthState Corp boosted its holdings in shares of American International Group by 41.7% in the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after purchasing an additional 217 shares during the period. Finally, Macroview Investment Management LLC boosted its holdings in shares of American International Group by 48,800.0% in the third quarter. Macroview Investment Management LLC now owns 978 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 976 shares during the period. 90.60% of the stock is owned by institutional investors.

American International Group Price Performance

American International Group stock traded down $0.17 during midday trading on Thursday, reaching $78.17. The company had a trading volume of 4,196,117 shares, compared to its average volume of 4,024,643. The company has a market capitalization of $53.23 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.09 and a beta of 1.02. American International Group, Inc. has a 12-month low of $47.99 and a 12-month high of $78.70. The firm’s fifty day simple moving average is $71.95 and its 200-day simple moving average is $66.75. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.31 and a quick ratio of 0.31.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. American International Group’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. As a group, equities analysts anticipate that American International Group, Inc. will post 7.1 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.84%. American International Group’s dividend payout ratio is currently 28.86%.

Insider Transactions at American International Group

In other news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.49% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of a number of research reports. UBS Group boosted their price target on American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. HSBC assumed coverage on American International Group in a report on Thursday, December 28th. They set a “buy” rating and a $86.00 target price for the company. Bank of America lowered American International Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. BMO Capital Markets lowered their target price on American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, TD Cowen started coverage on American International Group in a research report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.06.

American International Group Profile

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.