Opal Wealth Advisors LLC Invests $493,000 in American International Group, Inc. (NYSE:AIG)

Opal Wealth Advisors LLC purchased a new position in American International Group, Inc. (NYSE:AIG - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,666 shares of the insurance provider's stock, valued at approximately $493,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC raised its position in American International Group by 1.6% in the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock worth $704,000 after buying an additional 124 shares during the last quarter. Snowden Capital Advisors LLC grew its stake in shares of American International Group by 1.4% in the fourth quarter. Snowden Capital Advisors LLC now owns 10,564 shares of the insurance provider's stock worth $769,000 after acquiring an additional 146 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its holdings in shares of American International Group by 1.8% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider's stock valued at $641,000 after purchasing an additional 152 shares during the last quarter. Pitcairn Co. lifted its position in American International Group by 2.2% during the fourth quarter. Pitcairn Co. now owns 7,368 shares of the insurance provider's stock valued at $536,000 after purchasing an additional 158 shares during the period. Finally, Integrated Advisors Network LLC boosted its holdings in American International Group by 1.0% in the fourth quarter. Integrated Advisors Network LLC now owns 16,316 shares of the insurance provider's stock worth $1,188,000 after purchasing an additional 161 shares during the last quarter. Institutional investors own 90.60% of the company's stock.

Wall Street Analyst Weigh In

AIG has been the topic of several research analyst reports. Hsbc Global Res raised American International Group from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 5th. HSBC raised American International Group from a "hold" rating to a "buy" rating and set a $93.00 target price on the stock in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American International Group to $91.00 and gave the company a "buy" rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price objective on shares of American International Group from $94.00 to $97.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Finally, BMO Capital Markets upped their target price on shares of American International Group from $75.00 to $83.00 and gave the company a "market perform" rating in a report on Thursday, March 13th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.12.

Insider Buying and Selling

In other news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares of the company's stock, valued at approximately $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.50% of the stock is owned by corporate insiders.

American International Group Price Performance

AIG traded down $1.23 during trading hours on Tuesday, hitting $84.21. The company's stock had a trading volume of 3,282,743 shares, compared to its average volume of 4,407,073. The stock has a market cap of $48.53 billion, a price-to-earnings ratio of -40.49, a P/E/G ratio of 1.01 and a beta of 0.64. The business's 50-day moving average price is $82.98 and its 200-day moving average price is $78.95. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a 12 month low of $69.00 and a 12 month high of $88.07.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.89 billion. During the same quarter last year, the firm earned $1.25 EPS. Sell-side analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Friday, June 13th. This is a positive change from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio is presently -67.67%.

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.