Opal Wealth Advisors LLC Purchases Shares of 5,666 American International Group, Inc. (NYSE:AIG)

Opal Wealth Advisors LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,666 shares of the insurance provider’s stock, valued at approximately $493,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. bought a new stake in shares of American International Group in the 4th quarter valued at $25,000. Asset Planning Inc bought a new stake in shares of American International Group in the 4th quarter valued at $26,000. Ameriflex Group Inc. bought a new stake in shares of American International Group in the 4th quarter valued at $29,000. BankPlus Trust Department bought a new stake in shares of American International Group in the 4th quarter valued at $36,000. Finally, Whipplewood Advisors LLC bought a new stake in shares of American International Group in the 4th quarter valued at $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AIG. Keefe, Bruyette & Woods upped their price objective on shares of American International Group from $94.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Morgan Stanley upped 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. Deutsche Bank Aktiengesellschaft increased their target price 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 increased their target price 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, The Goldman Sachs Group increased their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 1st. Nine investment 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 company’s stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.12.

American International Group Stock Down 1.5%

American International Group stock opened at $84.52 on Friday. 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 capitalization of $48.71 billion, a price-to-earnings ratio of -40.63, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64. The firm’s fifty day moving average price is $82.83 and its two-hundred day moving average price is $78.87. 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 (NYSE:AIG) last released its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share 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 for the quarter, compared to analyst estimates of $6.89 billion. During the same period last year, the firm earned $1.25 earnings per share. On average, equities research analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal 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 $0.45 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 2.13%. This is an increase from American International Group’s previous quarterly dividend of $0.40. American International Group’s dividend payout ratio is currently -67.67%.

Insider Activity

In other news, EVP Christopher Flatt sold 46,182 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 21,400 shares in the company, valued at $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is currently owned by corporate insiders.

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.