Curat Global LLC Takes $334,000 Position in American International Group, Inc. (NYSE:AIG)

Curat Global LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the first quarter, HoldingsChannel reports. The firm purchased 3,840 shares of the insurance provider’s stock, valued at approximately $334,000.

A number of other hedge funds have also made changes to their positions in the company. Financial Management Professionals Inc. increased its position in shares of American International Group by 3.6% in the first quarter. Financial Management Professionals Inc. now owns 5,126 shares of the insurance provider’s stock valued at $446,000 after buying an additional 179 shares in the last quarter. Sendero Wealth Management LLC increased its position in shares of American International Group by 7.6% in the first quarter. Sendero Wealth Management LLC now owns 38,589 shares of the insurance provider’s stock valued at $3,355,000 after buying an additional 2,720 shares in the last quarter. Northside Capital Management LLC purchased a new position in shares of American International Group in the first quarter valued at $202,000. Amplius Wealth Advisors LLC purchased a new position in shares of American International Group in the first quarter valued at $234,000. Finally, Hennion & Walsh Asset Management Inc. increased its position in shares of American International Group by 48.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 46,018 shares of the insurance provider’s stock valued at $4,001,000 after buying an additional 14,968 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.4%

AIG opened at $85.31 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market capitalization of $49.17 billion, a price-to-earnings ratio of -41.02, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The business has a 50-day moving average of $82.49 and a two-hundred day moving average of $78.47. 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) last posted its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, beating the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The company had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter in the previous year, the business earned $1.25 EPS. On average, research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from American International Group’s previous quarterly dividend of $0.40. American International Group’s payout ratio is presently -67.67%.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was 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 now owns 21,400 shares in the company, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on AIG shares. Barclays raised 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. Wells Fargo & Company raised their price target on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of American International Group to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, April 2nd. Jefferies Financial Group raised their price target on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Morgan Stanley raised their price target on shares of American International Group from $81.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Monday, May 19th. Nine analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.12.

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.