International Group American Sells 5,000,000 Shares of American International Group, Inc. (NYSE:AIG) Stock

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 5,000,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, August 7th, International Group American sold 8,032,129 shares of American International Group stock. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10.
• On Tuesday, July 2nd, International Group American sold 1,932,609 shares of American International Group stock. The shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80.

American International Group Stock Performance

Shares of American International Group stock traded down $0.30 on Wednesday, reaching $73.30. 3,648,069 shares of the company traded hands, compared to its average volume of 4,136,912. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67. The firm has a market capitalization of $48.65 billion, a PE ratio of 10.99, a PEG ratio of 3.60 and a beta of 1.06. The company has a 50 day moving average of $74.73 and a 200 day moving average of $75.70. American International Group, Inc. has a 52 week low of $57.72 and a 52 week high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the prior year, the business earned $1.75 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Equities analysts forecast that American International Group, Inc. will post 5.24 earnings per share for the current year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.18%. The ex-dividend date is Monday, September 16th. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Hedge Funds Weigh In On American International Group

Several large investors have recently modified their holdings of the business. Forum Financial Management LP lifted its stake in shares of American International Group by 1.1% during the 2nd quarter. Forum Financial Management LP now owns 12,173 shares of the insurance provider’s stock valued at $904,000 after buying an additional 128 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of American International Group by 5.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after acquiring an additional 136 shares in the last quarter. Quent Capital LLC grew its position in shares of American International Group by 4.0% in the second quarter. Quent Capital LLC now owns 3,834 shares of the insurance provider’s stock valued at $285,000 after purchasing an additional 146 shares in the last quarter. New Republic Capital LLC grew its position in shares of American International Group by 5.2% in the first quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock valued at $257,000 after purchasing an additional 164 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in shares of American International Group by 2.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 6,106 shares of the insurance provider’s stock valued at $477,000 after purchasing an additional 165 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Citigroup reduced their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods lowered their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Morgan Stanley cut their target price on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. StockNews.com downgraded American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, American International Group presently has an average rating of “Hold” and a consensus price target of $83.88.

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.