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

Key Points

• Insider selling: AIG insider Peter Zaffino sold 36,829 shares for approximately $2.8 million under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 6.21%. He also sold 200,000 shares the previous day.
• Quarterly results: AIG reported quarterly earnings of $2.00 per share, beating analyst estimates of $1.92, while revenue of $7.08 billion fell short of the $7.25 billion expectation.
• Dividend and analyst view: AIG announced a quarterly dividend of $0.50 per share, representing a 2.6% yield. Analysts have a consensus “Hold” rating and an average price target of $88.39, above the stock’s recent price near $76.

American International Group, Inc. (NYSE:AIG - Get Free Report) insider Peter Zaffino sold 36,829 shares of American International Group stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $76.14, for a total transaction of $2,804,160.06. Following the sale, the insider owned 556,004 shares of the company's stock, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 value of $15,294,000.00.

American International Group Price Performance

AIG traded down $0.09 during midday trading on Thursday, reaching $76.05. 2,132,257 shares of the company's stock were exchanged, compared to its average volume of 3,466,259. The business's 50-day moving average price is $77.55 and its 200 day moving average price is $76.90. The stock has a market capitalization of $39.77 billion, a PE ratio of 13.90, a P/E/G ratio of 0.70 and a beta of 0.53. American International Group, Inc. has a 1-year low of $71.25 and a 1-year high of $87.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.65 and a quick ratio of 0.65.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The insurance provider reported $2.00 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $7.08 billion during the quarter, compared to analysts' expectations of $7.25 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 8.01 EPS for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group's payout ratio is presently 36.56%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. increased its holdings in shares of American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock worth $434,000 after buying an additional 129 shares during the period. Westwood Holdings Group Inc. grew its position in American International Group by 2.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock worth $396,000 after acquiring an additional 130 shares during the last quarter. Larson Financial Group LLC grew its position in American International Group by 12.6% during the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock worth $107,000 after acquiring an additional 140 shares during the last quarter. GW&K Investment Management LLC increased its stake in American International Group by 8.1% in the 4th quarter. GW&K Investment Management LLC now owns 1,917 shares of the insurance provider's stock worth $164,000 after purchasing an additional 144 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in American International Group by 1.3% in the 1st quarter. Kestra Private Wealth Services LLC now owns 11,048 shares of the insurance provider's stock worth $831,000 after purchasing an additional 146 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AIG. The Goldman Sachs Group raised their price target on shares of American International Group from $85.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Citigroup boosted their price objective 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. Piper Sandler upped their price objective on shares of American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a research note on Monday. Wells Fargo & Company decreased their target price 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. Finally, UBS Group lifted their target price on shares of American International Group from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, American International Group presently has an average rating of "Hold" and a consensus price target of $88.39.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source