OMNI 360 Wealth Inc. Invests $220,000 in American International Group, Inc. (NYSE:AIG)

OMNI 360 Wealth Inc. bought a new position in American International Group, Inc. (NYSE:AIG) in the 1st quarter, HoldingsChannel.com reports. The firm bought 2,534 shares of the insurance provider’s stock, valued at approximately $220,000.

Several other institutional investors have also recently made changes to their positions in the company. Miracle Mile Advisors LLC grew its stake in shares of 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 acquiring an additional 124 shares in the last quarter. Western Pacific Wealth Management LP boosted its holdings in shares of American International Group by 2.3% in the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider’s stock worth $493,000 after buying an additional 125 shares during the last quarter. Checchi Capital Advisers LLC raised its position in American International Group by 2.4% in the first quarter. Checchi Capital Advisers LLC now owns 5,610 shares of the insurance provider’s stock worth $488,000 after acquiring an additional 132 shares during the period. Snowden Capital Advisors LLC raised its position in 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. Finally, Laird Norton Wetherby Wealth Management LLC raised its position in American International Group by 1.8% in the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 8,799 shares of the insurance provider’s stock worth $641,000 after acquiring an additional 152 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Price Performance

Shares of AIG traded down $0.21 during midday trading on Tuesday, hitting $82.82. 155,556 shares of the company traded hands, compared to its average volume of 4,363,478. The stock has a 50-day moving average of $83.79 and a 200-day moving average of $80.09. American International Group, Inc. has a one year low of $69.00 and a one year high of $88.07. The firm has a market cap of $47.73 billion, a P/E ratio of -31.17, a PEG ratio of 0.91 and a beta of 0.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.64 and a quick ratio of 0.64.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $6.77 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same period in the prior year, the business posted $1.25 earnings per share. As a group, sell-side analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a dividend of $0.45 per share. The ex-dividend date was Friday, June 13th. This is a boost from American International Group’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a dividend yield of 2.17%. American International Group’s dividend payout ratio is currently -67.67%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company lifted their price objective on shares of American International Group from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. BMO Capital Markets lifted their price objective on shares of American International Group from $75.00 to $83.00 and gave the stock a “market perform” rating in a research report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $91.00 price objective (up previously from $83.00) on shares of American International Group in a research report on Tuesday, April 8th. Barclays lifted their price objective on shares of American International Group from $92.00 to $93.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of American International Group to $91.00 and gave the company a “buy” rating in a report on Wednesday, April 2nd. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $88.12.

Insider Buying and Selling at American International Group

In related news, EVP Christopher Flatt sold 46,182 shares of the company’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 value of $3,845,113.32. Following the transaction, the executive vice president directly owned 21,400 shares in the company, valued at approximately $1,781,764. This represents a 68.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

American International Group 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.