American International Group, Inc. (NYSE:AIG) Major Shareholder International Group American Sells 1,932,609 Shares

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 1,932,609 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following 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 legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more 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 stock was sold at an average price of $29.20, for a total value of $876,000,000.00.

American International Group Stock Performance

Shares of American International Group stock opened at $75.35 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a 50 day simple moving average of $76.74 and a 200 day simple moving average of $73.35. American International Group, Inc. has a fifty-two week low of $56.88 and a fifty-two week high of $80.83. The firm has a market cap of $50.01 billion, a P/E ratio of 11.24, a P/E/G ratio of 2.04 and a beta of 1.08.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping 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 company had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. Sell-side 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 has authorized a share buyback program on Wednesday, May 1st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback programs are usually an indication 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. Shareholders of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 2.12%. American International Group’s dividend payout ratio is presently 23.88%.

Analyst Upgrades and Downgrades

AIG has been the topic of several recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a report on Thursday, June 27th. Wells Fargo & Company boosted their price target on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Citigroup raised their price objective on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. raised their price target on shares of American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Finally, Evercore ISI dropped their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $81.38.

Hedge Funds Weigh In On American International Group

Several large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in American International Group during the 4th quarter worth $746,005,000. Swedbank AB bought a new stake in American International Group in the first quarter valued at about $99,951,000. Canada Pension Plan Investment Board lifted its stake in American International Group by 98.9% in the first quarter. Canada Pension Plan Investment Board now owns 1,893,990 shares of the insurance provider’s stock valued at $148,053,000 after buying an additional 941,607 shares during the period. Balyasny Asset Management L.P. boosted its holdings in American International Group by 95.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,221,724 shares of the insurance provider’s stock worth $82,772,000 after buying an additional 597,661 shares during the last quarter. Finally, Third Point LLC grew its position in shares of American International Group by 16.9% during the 4th quarter. Third Point LLC now owns 3,450,000 shares of the insurance provider’s stock worth $233,738,000 after buying an additional 500,000 shares during the period. 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.