Atria Wealth Solutions Inc. Lowers Stock Position in American International Group, Inc. (NYSE:AIG)

Atria Wealth Solutions Inc. lessened its holdings in American International Group, Inc. (NYSE:AIG) by 47.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,736 shares of the insurance provider’s stock after selling 9,854 shares during the period. Atria Wealth Solutions Inc.’s holdings in American International Group were worth $727,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in American International Group during the third quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in American International Group during the third quarter valued at approximately $32,000. CNB Bank purchased a new stake in American International Group during the third quarter valued at approximately $42,000. SouthState Corp lifted its position in American International Group by 41.7% during the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 217 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in American International Group by 41.7% during the fourth quarter. Blue Trust Inc. now owns 788 shares of the insurance provider’s stock valued at $53,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $78.48 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a PEG ratio of 1.09 and a beta of 1.02. American International Group, Inc. has a 52-week low of $48.95 and a 52-week high of $79.70. The firm’s fifty day simple moving average is $75.24 and its two-hundred day simple moving average is $69.36.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.68%. During the same period last year, the firm posted $1.63 earnings per share. Equities analysts anticipate that American International Group, Inc. will post 6.95 earnings per share for the current fiscal year.

American International Group declared that its Board of Directors has approved a share repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio (DPR) is currently 21.49%.

Insider Transactions at American International Group

In other news, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of American International Group stock in a transaction dated Friday, March 15th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John C. Inglis bought 659 shares of American International Group stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on AIG. UBS Group increased their target price on shares of American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada raised their price target on shares of American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Morgan Stanley raised their price target on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. TD Cowen initiated coverage on shares of American International Group in a report on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price target for the company. Finally, Citigroup raised their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American International Group presently has an average rating of “Moderate Buy” and a consensus target price of $80.44.

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.