Peter Zaffino Sells 36,829 Shares of American International Group (NYSE:AIG) Stock

American International Group, Inc. (NYSE:AIG) insider Peter Zaffino sold 36,829 shares of the company’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the transaction, the insider owned 556,004 shares of the company’s stock, valued at approximately $42,334,144.56. This represents a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Peter Zaffino also recently made the following trade(s):

• On Wednesday, August 12th, Peter Zaffino sold 200,000 shares of American International Group stock. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00.

American International Group Stock Up 0.7%

Shares of AIG stock opened at $76.54 on Friday. The company’s fifty day simple moving average is $77.57 and its two-hundred day simple moving average is $76.89. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.29. The stock has a market cap of $40.02 billion, a P/E ratio of 13.99, a PEG ratio of 0.69 and a beta of 0.53. The company has a quick ratio of 0.65, a current ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last issued its earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same period in the previous year, the firm posted $1.81 earnings per share. Analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, September 16th. American International Group’s dividend payout ratio (DPR) is currently 36.56%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AIG. Keefe, Bruyette & Woods upped their price objective on American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a report on Tuesday. Wells Fargo & Company reduced their price target on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. upped their price target on shares of American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Morgan Stanley lowered their price objective on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Piper Sandler lifted their price objective on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Seven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $88.39.

Institutional Trading of American International Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in American International Group by 20.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,932 shares of the insurance provider’s stock worth $7,608,000 after purchasing an additional 15,116 shares during the period. Norges Bank purchased a new stake in shares of American International Group during the fourth quarter valued at $636,782,000. Danske Bank A S boosted its stake in shares of American International Group by 7.7% during the fourth quarter. Danske Bank A S now owns 351,972 shares of the insurance provider’s stock valued at $30,111,000 after purchasing an additional 25,200 shares during the period. Lee Danner & Bass Inc. grew its holdings in shares of American International Group by 194.2% in the first quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider’s stock worth $2,542,000 after purchasing an additional 22,300 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of American International Group by 4.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,156,343 shares of the insurance provider’s stock worth $97,445,000 after purchasing an additional 50,775 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.