Ritholtz Wealth Management Has $2.56 Million Stake in American International Group, Inc. (NYSE:AIG)

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

Other institutional investors also recently modified their holdings of the company. Fairfield Bush & CO. bought a new stake in American International Group during the first quarter worth $84,000. Cetera Advisor Networks LLC grew its holdings in American International Group by 11.7% during the first quarter. Cetera Advisor Networks LLC now owns 5,535 shares of the insurance provider’s stock worth $347,000 after buying an additional 578 shares in the last quarter. Blair William & Co. IL grew its holdings in American International Group by 1.2% during the first quarter. Blair William & Co. IL now owns 100,861 shares of the insurance provider’s stock worth $6,331,000 after buying an additional 1,207 shares in the last quarter. Cetera Investment Advisers grew its holdings in American International Group by 20.1% during the first quarter. Cetera Investment Advisers now owns 20,447 shares of the insurance provider’s stock worth $1,283,000 after buying an additional 3,428 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in American International Group by 43.3% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,324 shares of the insurance provider’s stock valued at $334,000 after purchasing an additional 1,608 shares during the period. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AIG. HSBC began coverage on American International Group in a research note on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective for the company. Wells Fargo & Company increased their price target on American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and increased their price target for the stock from $75.00 to $77.00 in a research note on Tuesday, February 20th. UBS Group increased their price target on American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, BMO Capital Markets dropped their price objective on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average price target of $74.06.

American International Group Price Performance

Shares of NYSE:AIG traded down $0.17 on Thursday, hitting $78.17. The company’s stock 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 PE ratio of 15.67, a PEG ratio of 1.09 and a beta of 1.02. 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, Inc. has a 1 year low of $47.99 and a 1 year high of $78.70. The company has a 50-day simple moving average of $71.95 and a 200 day simple moving average of $66.75.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period last year, the firm posted $1.36 EPS. Sell-side analysts forecast that American International Group, Inc. will post 7.1 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be given a $0.36 dividend. The ex-dividend date 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 American International Group stock in a transaction that occurred on Thursday, March 14th. The shares were bought at an average cost of $75.39 per share, with a total value of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John C. Inglis purchased 659 shares of the stock in a transaction dated Thursday, March 14th. The shares were acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the acquisition, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.49% of the company’s stock.

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.