Ritholtz Wealth Management Sells 323 Shares of American International Group, Inc. $AIG

Ritholtz Wealth Management reduced its position in shares of American International Group, Inc. (NYSE:AIG) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 37,846 shares of the insurance provider’s stock after selling 323 shares during the quarter. Ritholtz Wealth Management’s holdings in American International Group were worth $3,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC increased its position in shares of American International Group by 194.5% during the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 249 shares in the last quarter. GFG Capital LLC bought a new stake in shares of American International Group in the 2nd quarter worth $33,000. Barrett & Company Inc. bought a new stake in shares of American International Group in the 2nd quarter worth $35,000. Hemington Wealth Management increased its holdings in shares of American International Group by 42.8% in the 1st quarter. Hemington Wealth Management now owns 474 shares of the insurance provider’s stock worth $41,000 after purchasing an additional 142 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new stake in American International Group in the 2nd quarter worth about $42,000. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AIG shares. Piper Sandler reduced their price objective on American International Group from $96.00 to $88.00 and set an “overweight” rating for the company in a report on Thursday, October 2nd. William Blair upgraded shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. UBS Group lifted their target price on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Wolfe Research began coverage on shares of American International Group in a research report on Tuesday, September 16th. They issued a “peer perform” rating for the company. Finally, Evercore ISI lifted their price objective on American International Group from $89.00 to $90.00 and gave the stock an “in-line” rating in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.81.

American International Group Stock Performance

NYSE:AIG opened at $81.30 on Thursday. The stock has a 50-day simple moving average of $80.01 and a two-hundred day simple moving average of $81.64. American International Group, Inc. has a 52-week low of $69.24 and a 52-week high of $88.07. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.63 and a current ratio of 0.63. The firm has a market capitalization of $45.04 billion, a PE ratio of 15.40, a P/E/G ratio of 0.82 and a beta of 0.68.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 6th. The insurance provider reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.21. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.81 billion. American International Group had a return on equity of 7.88% and a net margin of 11.51%.During the same quarter in the previous year, the company posted $1.16 earnings per share. Analysts forecast that American International Group, Inc. will post 6.24 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, September 16th. American International Group’s dividend payout ratio is presently 34.09%.

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.