American International Group, Inc. (NYSE:AIG) Major Shareholder International Group American Sells 5,000,000 Shares

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more 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 Wednesday, August 7th, International Group American sold 8,032,129 shares of American International Group stock. The stock was 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 stock was 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 opened at $73.27 on Thursday. The company has a market capitalization of $48.63 billion, a PE ratio of 10.94, a P/E/G ratio of 3.60 and a beta of 1.06. The company has a 50-day simple moving average of $74.68 and a two-hundred day simple moving average of $75.68. American International Group, Inc. has a one year low of $57.72 and a one year high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

American International Group (NYSE:AIG) last posted its 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 firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 EPS. Research analysts expect that American International Group, Inc. will post 5.24 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. American International Group’s payout ratio is 23.88%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC purchased a new stake in shares of American International Group during the second quarter worth about $3,915,000. New Century Financial Group LLC purchased a new stake in American International Group during the 2nd quarter worth approximately $224,000. Cetera Investment Advisers grew its position in American International Group by 13.5% during the 2nd quarter. Cetera Investment Advisers now owns 65,432 shares of the insurance provider’s stock worth $4,858,000 after purchasing an additional 7,784 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new position in American International Group during the 2nd quarter valued at approximately $293,000. Finally, Truist Financial Corp raised its holdings in shares of American International Group by 16.0% in the second quarter. Truist Financial Corp now owns 54,999 shares of the insurance provider’s stock worth $4,083,000 after buying an additional 7,600 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on AIG shares. Wells Fargo & Company dropped their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. TD Cowen dropped their price objective on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on American International Group from $80.00 to $93.00 and gave the company a “neutral” rating in a research report on Thursday, July 11th. Citigroup lowered their target price on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, Keefe, Bruyette & Woods cut their price target on 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 equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.88.

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.