American International Group, Inc. (NYSE:AIG) Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management raised its holdings in American International Group, Inc. (NYSE:AIG) by 10.3% in the third quarter, Holdings Channel.com reports. The fund owned 36,956 shares of the insurance provider’s stock after acquiring an additional 3,451 shares during the period. Ritholtz Wealth Management’s holdings in American International Group were worth $2,706,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cetera Investment Advisers grew its position in American International Group by 348.6% in the first quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after buying an additional 44,797 shares during the last quarter. OFI Invest Asset Management boosted its holdings in shares of American International Group by 2,208.3% in the second quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after buying an additional 9,805 shares during the period. Bessemer Group Inc. increased its position in shares of American International Group by 64.3% in the first quarter. Bessemer Group Inc. now owns 28,498 shares of the insurance provider’s stock worth $2,227,000 after acquiring an additional 11,149 shares in the last quarter. Coronation Fund Managers Ltd. purchased a new stake in shares of American International Group in the first quarter valued at $1,367,000. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of American International Group by 19.0% during the first quarter. Illinois Municipal Retirement Fund now owns 156,150 shares of the insurance provider’s stock valued at $12,206,000 after buying an additional 24,906 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of NYSE AIG opened at $77.23 on Friday. The business’s 50 day moving average is $73.76 and its two-hundred day moving average is $75.50. The company has a market cap of $49.73 billion, a P/E ratio of -59.87, a P/E/G ratio of 3.88 and a beta of 1.06. 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, Inc. has a 12 month low of $58.69 and a 12 month high of $80.83.

American International Group (NYSE:AIG) last released its 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 positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.64 billion. During the same period last year, the business earned $1.75 earnings per share. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities analysts expect that American International Group, Inc. will post 5.09 EPS for the current year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a $0.40 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.60 annualized dividend and a yield of 2.07%. American International Group’s dividend payout ratio (DPR) is currently -124.03%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Piper Sandler lowered their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. StockNews.com downgraded shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Citigroup lowered their target price on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. Barclays initiated coverage on American International Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. Finally, Keefe, Bruyette & Woods cut 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 research report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, American International Group has a consensus rating of “Moderate Buy” and an average target price of $84.50.

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.