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

Atria Wealth Solutions Inc. boosted its position in American International Group, Inc. (NYSE:AIG) by 6.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,651 shares of the insurance provider’s stock after buying an additional 389 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in American International Group were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in AIG. Sachetta LLC grew its position in shares of American International Group by 194.5% in the first quarter. Sachetta LLC now owns 377 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 249 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of American International Group in the fourth quarter valued at $29,000. NBC Securities Inc. purchased a new position in shares of American International Group in the first quarter valued at $47,000. Colonial Trust Co SC grew its position in shares of American International Group by 150.2% in the fourth quarter. Colonial Trust Co SC now owns 738 shares of the insurance provider’s stock valued at $54,000 after purchasing an additional 443 shares in the last quarter. Finally, True Wealth Design LLC grew its position in shares of American International Group by 159.6% in the fourth quarter. True Wealth Design LLC now owns 1,041 shares of the insurance provider’s stock valued at $76,000 after purchasing an additional 640 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

American International Group Trading Up 1.8%

Shares of AIG stock opened at $79.91 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $82.05 and a two-hundred day moving average price of $81.25. American International Group, Inc. has a 12-month low of $69.24 and a 12-month high of $88.07. The firm has a market cap of $44.27 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

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

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.80 annualized dividend and a yield of 2.3%. American International Group’s payout ratio is 34.09%.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. William Blair upgraded American International Group to a “strong-buy” rating in a research report on Friday, August 1st. Wells Fargo & Company lifted their price target on American International Group from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Barclays lifted their price target on American International Group from $92.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Finally, Wall Street Zen upgraded American International Group from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Eight research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

About American International Group

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.