American International Group, Inc. (NYSE:AIG) Major Shareholder Sells $56,432,182.80 in Stock

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 1,932,609 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $29.20, for a total value of $56,432,182.80. Following the completion of the transaction, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

International Group American also recently made the following trade(s):

• On Monday, June 3rd, International Group American sold 30,000,000 shares of American International Group stock. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00.

American International Group Price Performance

Shares of NYSE AIG opened at $75.15 on Friday. The company has a fifty day moving average price of $76.75 and a 200 day moving average price of $73.43. American International Group, Inc. has a 1-year low of $56.88 and a 1-year high of $80.83. The firm has a market cap of $49.87 billion, a PE ratio of 11.22, a PEG ratio of 2.07 and a beta of 1.08. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last announced its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter last year, the firm earned $1.63 EPS. Research analysts predict that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to repurchase up to 19.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.40 per share. This is a boost from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.13%. American International Group’s dividend payout ratio is presently 23.88%.

Wall Street Analyst Weigh In

AIG has been the subject of a number of recent research reports. Evercore ISI dropped their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, June 27th. HSBC cut shares of American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Wednesday, May 15th. Piper Sandler raised their price target on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Citigroup upped their price objective on American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Morgan Stanley raised their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $81.38.

Hedge Funds Weigh In On American International Group

A number of large investors have recently modified their holdings of AIG. Rise Advisors LLC bought a new stake in American International Group during the first quarter worth about $29,000. Valued Wealth Advisors LLC boosted its holdings in shares of American International Group by 303.3% in the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. CENTRAL TRUST Co grew its stake in shares of American International Group by 123.8% in the first quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after buying an additional 250 shares in the last quarter. Neo Ivy Capital Management acquired a new position in American International Group during the fourth quarter worth $40,000. Finally, Scarborough Advisors LLC bought a new stake in American International Group during the fourth quarter worth $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Company 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.