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 the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $8,534,313,988.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% 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 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 Trading Up 1.2 %

AIG stock traded up $0.86 during mid-day trading on Tuesday, reaching $75.35. 3,778,740 shares of the stock traded hands, compared to its average volume of 4,148,845. American International Group, Inc. has a 52-week low of $56.88 and a 52-week high of $80.83. The stock’s fifty day moving average is $76.74 and its 200-day moving average is $73.35. The company 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. 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 issued its quarterly earnings results on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, beating the consensus estimate of $1.66 by $0.11. American International Group had a net margin of 9.98% and a return on equity of 10.54%. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same quarter in the prior year, the firm earned $1.63 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 7.02 earnings per share for the current year.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.40 per share. This is an increase from American International Group’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. American International Group’s payout ratio is currently 23.88%.

Wall Street Analyst Weigh In

A number of research firms have commented on AIG. JPMorgan Chase & Co. boosted 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 report on Monday, April 8th. Evercore ISI dropped their target price on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Bank of America increased their price target on American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a research note on Tuesday, June 11th. Piper Sandler boosted their price objective on American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Thursday, June 27th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, American International Group presently has an average rating of “Hold” and an average target price of $81.38.

Institutional Investors Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of AIG. Valued Wealth Advisors LLC grew 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 valued at $29,000 after acquiring an additional 276 shares in the last quarter. Rise Advisors LLC purchased a new position in American International Group in the first quarter valued at about $29,000. CENTRAL TRUST Co increased its position in American International Group by 123.8% in the 1st quarter. CENTRAL TRUST Co now owns 452 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 250 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of American International Group during the 4th quarter worth about $40,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of American International Group during the 4th quarter valued at about $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.