Ritholtz Wealth Management Has $2.49 Million Position in American International Group, Inc. (NYSE:AIG)

Ritholtz Wealth Management lifted its position in American International Group, Inc. (NYSE:AIG) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,505 shares of the insurance provider’s stock after acquiring an additional 496 shares during the period. Ritholtz Wealth Management’s holdings in American International Group were worth $2,487,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Fortitude Family Office LLC raised its holdings in American International Group by 199.2% in the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares during the period. Rise Advisors LLC bought a new stake in shares of American International Group in the 1st quarter valued at $29,000. Valued Wealth Advisors LLC raised its stake in American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after buying an additional 276 shares during the period. Versant Capital Management Inc lifted its holdings in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after acquiring an additional 339 shares in the last quarter. Finally, CENTRAL TRUST Co grew its stake in American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after acquiring an additional 250 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

NYSE:AIG opened at $77.05 on Monday. American International Group, Inc. has a 12-month low of $57.72 and a 12-month high of $80.83. The firm has a market capitalization of $49.62 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 3.84 and a beta of 1.07. The stock’s 50 day moving average price is $74.99 and its two-hundred day moving average price is $75.45. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. During the same quarter last year, the company posted $1.75 EPS. The firm’s revenue was up .0% on a year-over-year basis. On average, analysts anticipate that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio is presently 23.88%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at approximately $7,077,548,560.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.61% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on AIG. Evercore ISI cut their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Wednesday, May 15th. Keefe, Bruyette & Woods lowered their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Morgan Stanley reduced their target price on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, BMO Capital Markets raised their target price on shares of American International Group from $88.00 to $89.00 and gave the company an “outperform” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average target price of $83.47.

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.