Opal Capital LLC Acquires New Position in American International Group, Inc. $AIG

Opal Capital LLC acquired a new stake in American International Group, Inc. (NYSE:AIG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 82,834 shares of the insurance provider’s stock, valued at approximately $7,086,000. American International Group makes up 1.8% of Opal Capital LLC’s portfolio, making the stock its 18th biggest holding.

Several other large investors have also bought and sold shares of the business. Rakuten Investment Management Inc. lifted its holdings in American International Group by 7,059.2% in the fourth quarter. Rakuten Investment Management Inc. now owns 71,592 shares of the insurance provider’s stock valued at $6,191,000 after buying an additional 70,592 shares during the period. 71 West Capital Partners acquired a new position in American International Group in the fourth quarter valued at approximately $266,000. University of Texas Texas AM Investment Management Co. lifted its holdings in American International Group by 679.6% in the fourth quarter. University of Texas Texas AM Investment Management Co. now owns 70,850 shares of the insurance provider’s stock valued at $6,061,000 after buying an additional 61,762 shares during the period. MML Investors Services LLC lifted its holdings in American International Group by 16.3% in the fourth quarter. MML Investors Services LLC now owns 58,157 shares of the insurance provider’s stock valued at $4,975,000 after buying an additional 8,163 shares during the period. Finally, Focus Partners Wealth lifted its holdings in American International Group by 154.2% in the fourth quarter. Focus Partners Wealth now owns 58,627 shares of the insurance provider’s stock valued at $5,014,000 after buying an additional 35,564 shares during the period. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on AIG. Mizuho increased their price objective on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods increased their price objective on shares of American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. The Goldman Sachs Group cut their price objective on shares of American International Group from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 8th. Morgan Stanley lowered their target price on shares of American International Group from $83.00 to $82.00 and set an “equal weight” rating for the company in a research note on Monday, April 6th. Finally, Cantor Fitzgerald upped their target price on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, American International Group has a consensus rating of “Hold” and a consensus price target of $87.78.

American International Group Stock Performance

Shares of NYSE AIG opened at $75.13 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a 50 day moving average price of $76.05 and a 200 day moving average price of $77.39. The stock has a market capitalization of $39.84 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the firm earned $1.17 EPS. Analysts predict that American International Group, Inc. will post 7.99 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.7%. This is an increase from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. American International Group’s payout ratio is currently 35.27%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.