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 firm’s stock in a transaction that occurred 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 in the company, valued at approximately $8,534,313,988.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares 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 value of $876,000,000.00.

American International Group Price Performance

Shares of NYSE AIG opened at $75.35 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $76.74 and its 200 day moving average price is $73.35. American International Group, Inc. has a 52 week low of $56.88 and a 52 week high of $80.83. The stock has a market cap of $50.01 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 2.04 and a beta of 1.08.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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. The business had revenue of $12.58 billion during the quarter, compared to analysts’ expectations of $12.04 billion. American International Group had a net margin of 9.98% and a return on equity of 10.54%. During the same period last year, the company posted $1.63 EPS. As a group, research analysts forecast that American International Group, Inc. will post 7.02 earnings per share for the current fiscal year.

American International Group declared that its board has approved a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. 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%. This is a positive change from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of analyst reports. Piper Sandler lifted their price objective on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. boosted their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $87.00 price target on shares of American International Group in a report on Thursday, June 27th. Wells Fargo & Company upped their price objective on American International Group from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Finally, HSBC downgraded American International Group from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Wednesday, May 15th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.38.

Hedge Funds Weigh In On American International Group

Several large investors have recently added to or reduced their stakes in AIG. Massmutual Trust Co. FSB ADV lifted its holdings in shares of American International Group by 10.2% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,720 shares of the insurance provider’s stock worth $202,000 after acquiring an additional 252 shares during the period. GAMMA Investing LLC grew its stake in shares of American International Group by 29.9% during the 2nd quarter. GAMMA Investing LLC now owns 8,770 shares of the insurance provider’s stock valued at $651,000 after buying an additional 2,018 shares during the period. Transcend Capital Advisors LLC increased its holdings in shares of American International Group by 89.1% during the 2nd quarter. Transcend Capital Advisors LLC now owns 8,614 shares of the insurance provider’s stock worth $640,000 after buying an additional 4,058 shares during the last quarter. Hamilton Wealth LLC purchased a new position in shares of American International Group in the 1st quarter worth $366,000. Finally, DekaBank Deutsche Girozentrale grew its position in American International Group by 8.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after acquiring an additional 10,581 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

About American International Group

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.