HB Wealth Management LLC Has $2.26 Million Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• HB Wealth Management LLC increased its stake in American International Group, Inc. by 55.5% in Q1, bringing their total holdings to 26,021 shares valued at $2,262,000.
• American International Group recently increased its quarterly dividend to $0.45 per share, resulting in a 2.28% dividend yield, up from the previous $0.40.
• Analysts have raised their price targets for AIG, with Jefferies setting a target of $95.00 and a consensus target of $88.19 after a mix of buy and hold ratings from various firms.

HB Wealth Management LLC boosted its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 55.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,021 shares of the insurance provider's stock after purchasing an additional 9,291 shares during the period. HB Wealth Management LLC's holdings in American International Group were worth $2,262,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AIG. Wealth Enhancement Advisory Services LLC lifted its position in shares of American International Group by 175.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after buying an additional 115,706 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in American International Group by 2.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after acquiring an additional 355 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock valued at $251,000 after purchasing an additional 745 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock valued at $1,146,000 after purchasing an additional 2,069 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of American International Group during the 4th quarter valued at approximately $1,091,000. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analysts Forecast Growth

AIG has been the subject of several research reports. Morgan Stanley increased their price objective on shares of American International Group from $81.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods raised their price objective on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Jefferies Financial Group upped their target price on American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company boosted their price target on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Nine equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $88.19.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the completion of the sale, the executive vice president owned 21,400 shares of the company's stock, valued at $1,781,764. This trade represents a 68.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.50% of the company's stock.

American International Group Trading Down 1.3%

AIG stock traded down $0.99 during midday trading on Friday, hitting $76.64. The stock had a trading volume of 1,535,365 shares, compared to its average volume of 4,577,169. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. The business has a fifty day moving average price of $83.03 and a two-hundred day moving average price of $81.01. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The firm has a market cap of $44.17 billion, a P/E ratio of -28.84, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.89 billion. During the same period in the previous year, the business earned $1.25 EPS. On average, sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

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.