American International Group, Inc. (NYSE:AIG) Major Shareholder International Group American Sells 50,000,000 Shares of Stock

American International Group, Inc. (NYSE:AIG) major shareholder International Group American sold 50,000,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $20.50, for a total transaction of $1,025,000,000.00. Following the completion of the transaction, the insider now directly owns 365,413,892 shares of the company’s stock, valued at $7,490,984,786. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

American International Group Stock Down 0.1 %

NYSE:AIG opened at $63.73 on Tuesday. American International Group, Inc. has a twelve month low of $45.66 and a twelve month high of $64.94. The company has a market cap of $44.74 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03. The stock has a fifty day simple moving average of $61.25 and a 200-day simple moving average of $58.45. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06.

American International Group (NYSE:AIG) last released its earnings results on Thursday, November 2nd. The insurance provider reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.06. American International Group had a return on equity of 10.66% and a net margin of 7.87%. The business had revenue of $12.77 billion during the quarter, compared to the consensus estimate of $12.62 billion. During the same period last year, the company earned $0.66 earnings per share. Analysts anticipate that American International Group, Inc. will post 6.63 EPS for the current year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a dividend of $0.36 per share. The ex-dividend date is Wednesday, December 13th. This represents a $1.44 annualized dividend and a dividend yield of 2.26%. American International Group’s dividend payout ratio is currently 27.59%.

Hedge Funds Weigh In On American International Group

Several institutional investors have recently made changes to their positions in AIG. OFI Invest Asset Management purchased a new position in shares of American International Group during the third quarter valued at $26,000. Avalon Trust Co purchased a new position in shares of American International Group during the first quarter valued at $28,000. Headlands Technologies LLC purchased a new position in shares of American International Group during the third quarter valued at $32,000. CNB Bank purchased a new position in shares of American International Group during the third quarter valued at $42,000. Finally, SouthState Corp increased its stake in shares of American International Group by 41.7% during the third quarter. SouthState Corp now owns 737 shares of the insurance provider’s stock valued at $45,000 after buying an additional 217 shares during the period. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AIG. Deutsche Bank Aktiengesellschaft began coverage on shares of American International Group in a report on Wednesday, October 4th. They issued a “buy” rating and a $79.00 target price for the company. Morgan Stanley raised their target price on shares of American International Group from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. Barclays raised their target price on shares of American International Group from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Royal Bank of Canada raised their target price on shares of American International Group from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Finally, Wells Fargo & Company raised their price target on American International Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 17th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.71.

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 General Insurance, and Life and Retirement segments. 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.