Atria Wealth Solutions Inc. Trims Holdings in American International Group, Inc. (NYSE:AIG)

Atria Wealth Solutions Inc. lessened its holdings in shares of American International Group, Inc. (NYSE:AIG) by 47.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 reporting period.

A number of other hedge funds also recently bought and sold shares of AIG. LSV Asset Management increased its holdings in American International Group by 13.2% during the 3rd quarter. LSV Asset Management now owns 5,496,879 shares of the insurance provider’s stock valued at $333,111,000 after purchasing an additional 639,079 shares during the period. FMR LLC increased its holdings in American International Group by 5.0% during the 3rd quarter. FMR LLC now owns 12,745,085 shares of the insurance provider’s stock valued at $772,352,000 after purchasing an additional 604,901 shares during the period. Invesco Ltd. increased its holdings in American International Group by 3.0% during the 3rd quarter. Invesco Ltd. now owns 17,085,545 shares of the insurance provider’s stock valued at $1,035,384,000 after purchasing an additional 503,547 shares during the period. Westfield Capital Management Co. LP increased its holdings in American International Group by 55.3% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,336,355 shares of the insurance provider’s stock valued at $80,983,000 after purchasing an additional 476,104 shares during the period. Finally, Adams Diversified Equity Fund Inc. purchased a new position in shares of American International Group during the 3rd quarter worth approximately $25,549,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AIG shares. Royal Bank of Canada upped their target price on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and upped their target price for the stock from $75.00 to $77.00 in a report on Tuesday, February 20th. JPMorgan Chase & Co. upped their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. Wells Fargo & Company upped their target price on American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Finally, Morgan Stanley upped their price target on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.44.

Insider Buying and Selling

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

American International Group Price Performance

Shares of NYSE:AIG opened at $78.48 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The firm has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The business has a 50-day simple moving average of $75.24 and a two-hundred day simple moving average of $69.36. American International Group, Inc. has a fifty-two week low of $48.95 and a fifty-two week high of $79.70.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.68%. The firm had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. During the same period in the previous year, the company earned $1.63 earnings per share. On average, analysts expect that American International Group, Inc. will post 6.95 earnings per share for the current year.

American International Group Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, June 14th. American International Group’s dividend payout ratio (DPR) is 21.49%.

American International Group declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

American International Group Company 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.