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

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 1,932,609 shares of American International Group stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $29.20, for a total value of $56,432,182.80. Following the transaction, the insider now owns 292,271,027 shares in the company, valued at $8,534,313,988.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own at least 10% of a company’s stock 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 Up 1.2 %

Shares of NYSE:AIG traded up $0.86 during midday trading on Tuesday, hitting $75.35. The stock had a trading volume of 3,778,740 shares, compared to its average volume of 4,148,845. American International Group, Inc. has a 12 month low of $56.88 and a 12 month high of $80.83. The company has a market cap of $50.01 billion, a P/E ratio of 11.24, a PEG ratio of 2.04 and a beta of 1.08. The business’s 50-day simple moving average is $76.74 and its 200-day simple moving average is $73.35. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05.

American International Group (NYSE:AIG) last posted 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 last year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given 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 2.12%. American International Group’s dividend payout ratio is currently 23.88%.

American International Group announced that its Board of Directors has authorized a share buyback program on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to reacquire up to 19.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC raised its holdings in shares of American International Group by 303.3% during the 1st quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after buying an additional 276 shares in the last quarter. Rise Advisors LLC bought a new position in shares of American International Group in the first quarter worth about $29,000. CENTRAL TRUST Co grew its holdings in shares of American International Group by 123.8% during the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock valued at $35,000 after purchasing an additional 250 shares during the last quarter. Neo Ivy Capital Management acquired a new position in American International Group during the 4th quarter worth approximately $40,000. Finally, Scarborough Advisors LLC bought a new position in American International Group in the 4th quarter valued at approximately $40,000. 90.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AIG shares. Morgan Stanley increased their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. BMO Capital Markets raised their price objective on shares of American International Group from $88.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, May 13th. Evercore ISI cut their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a report on Thursday, June 27th. Finally, JPMorgan Chase & Co. boosted their price target on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, April 8th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, American International Group presently has an average rating of “Hold” and an average target price of $81.38.

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.