Insider Selling: American International Group, Inc. (NYSE:AIG) Major Shareholder Sells $56,432,182.80 in Stock

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 shares were sold at an average price of $29.20, for a total transaction of $56,432,182.80. Following the completion of the sale, the insider now owns 292,271,027 shares in the company, valued at approximately $8,534,313,988.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own 10% or more 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 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 Trading Down 0.2 %

NYSE:AIG opened at $75.15 on Friday. The stock has a fifty day simple moving average of $76.75 and a 200 day simple moving average of $73.43. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $49.87 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 2.07 and a beta of 1.08. American International Group, Inc. has a 1-year low of $56.88 and a 1-year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.11. The business had revenue of $12.58 billion for the quarter, compared to the consensus estimate 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 firm posted $1.63 earnings per share. Sell-side analysts forecast that American International Group, Inc. will post 7.02 earnings per share for the current year.

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.40 per share. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 2.13%. The ex-dividend date was Friday, June 14th. American International Group’s payout ratio is 23.88%.

American International Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, May 1st that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 19.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its stake in 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 valued at $202,000 after acquiring an additional 252 shares in the last quarter. GAMMA Investing LLC increased its stake in American International Group by 29.9% in 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 lifted its position in American International Group by 89.1% in 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 in the last quarter. Hamilton Wealth LLC acquired a new stake in shares of American International Group during the 1st quarter valued at $366,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of American International Group by 8.0% during the 1st 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 in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Piper Sandler increased their price target 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. Morgan Stanley raised their target price on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Thursday, June 27th. Citigroup raised their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. 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 research report on Wednesday, May 15th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and an average target price of $81.38.

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.