Peter Zaffino Sells 200,000 Shares of American International Group (NYSE:AIG) Stock

American International Group, Inc. (NYSE:AIG) insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, August 13th, Peter Zaffino sold 36,829 shares of American International Group stock. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06.

American International Group Trading Down 0.1%

Shares of NYSE AIG traded down $0.09 during trading on Thursday, reaching $76.05. The stock had a trading volume of 2,132,257 shares, compared to its average volume of 3,466,259. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $39.77 billion, a P/E ratio of 13.90, a PEG ratio of 0.70 and a beta of 0.53. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29. The business’s 50-day moving average price is $77.55 and its 200-day moving average price is $76.90.

American International Group (NYSE:AIG) last posted 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. American International Group had a return on equity of 11.03% and a net margin of 11.13%.The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same quarter in the prior year, the company earned $1.81 EPS. On average, equities research analysts predict that American International Group, Inc. will post 8.01 EPS for the current fiscal year.

American International Group Announces Dividend

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

Institutional Trading of American International Group

A number of large investors have recently made changes to their positions in the company. Allstate Corp raised its holdings in American International Group by 0.9% in the second quarter. Allstate Corp now owns 53,726 shares of the insurance provider’s stock valued at $4,004,000 after acquiring an additional 468 shares in the last quarter. Cibc World Market Inc. lifted its position in shares of American International Group by 1.5% during the 2nd quarter. Cibc World Market Inc. now owns 29,343 shares of the insurance provider’s stock worth $2,187,000 after purchasing an additional 441 shares during the last quarter. OMERS ADMINISTRATION Corp lifted its position in shares of American International Group by 13.2% during the 2nd quarter. OMERS ADMINISTRATION Corp now owns 41,611 shares of the insurance provider’s stock worth $3,101,000 after purchasing an additional 4,845 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of American International Group by 258.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,183 shares of the insurance provider’s stock worth $908,000 after purchasing an additional 8,788 shares in the last quarter. Finally, Bank of Nova Scotia increased its holdings in American International Group by 131.5% in the second quarter. Bank of Nova Scotia now owns 1,175,453 shares of the insurance provider’s stock valued at $87,607,000 after buying an additional 667,791 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AIG has been the subject of several recent research reports. Cantor Fitzgerald raised shares of American International Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $92.00 in a research note on Thursday, July 9th. The Goldman Sachs Group increased their target price on shares of American International Group from $85.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Citigroup raised their price target on shares of American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. Morgan Stanley dropped their price target on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, UBS Group upped their price objective on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $88.39.

About American International Group

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.