Insider Selling: American International Group, Inc. (NYSE:AIG) Major Shareholder Sells $144,300,000.00 in Stock

by · The Markets Daily

American International Group, Inc. (NYSE:AIG – Get Free Report) major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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 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 transaction 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 Trading Down 0.2 %

Shares of AIG opened at $73.76 on Friday. American International Group, Inc. has a twelve month low of $57.72 and a twelve month high of $80.83. The company has a market cap of $48.95 billion, a P/E ratio of 11.01, a P/E/G ratio of 3.60 and a beta of 1.06. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The company’s fifty day simple moving average is $74.55 and its 200-day simple moving average is $75.67.

American International Group (NYSE:AIG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.75 earnings per share. As a group, analysts expect that American International Group, Inc. will post 5.24 EPS for the current year.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Monday, September 16th. American International Group’s payout ratio is presently 23.88%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. TCW Group Inc. bought a new position in shares of American International Group in the fourth quarter worth about $724,000. Dynamic Technology Lab Private Ltd bought a new position in American International Group during the 4th quarter worth about $948,000. Cetera Investment Advisers grew its holdings in American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock worth $4,506,000 after acquiring an additional 44,797 shares in the last quarter. Vinva Investment Management Ltd bought a new position in American International Group during the 4th quarter worth about $1,699,000. Finally, OFI Invest Asset Management grew its holdings in American International Group by 2,208.3% during the 2nd quarter. OFI Invest Asset Management now owns 10,249 shares of the insurance provider’s stock worth $710,000 after acquiring an additional 9,805 shares in the last quarter. 90.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AIG shares. JPMorgan Chase & Co. lifted their price objective on shares of American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Evercore ISI decreased their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $87.00 price target on shares of American International Group in a research note on Tuesday, July 9th. Morgan Stanley decreased their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $83.88.

View Our Latest Research Report on AIG

About American International Group

(Get Free Report)

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.

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