Man Group plc Buys 1,847,194 Shares of American International Group, Inc. $AIG

Key Points

• Man Group plc more than doubled its AIG stake in the second quarter, buying 1.85 million additional shares to own 3.61 million shares valued at approximately $269.2 million. Institutional investors collectively hold 90.6% of AIG’s outstanding stock.
• AIG reported quarterly EPS of $2.00, beating estimates of $1.92, although revenue of $7.08 billion fell short of the $7.25 billion consensus forecast. The company declared a quarterly dividend of $0.50 per share, equivalent to a 2.6% yield.
• Analyst sentiment remains mixed, with seven Buy ratings and twelve Holds, producing a consensus rating of “Hold” and an average price target of $88.28 versus the stock’s reported $76.44 price. Insider Peter Zaffino also sold 36,829 shares under a pre-arranged trading plan.

Man Group plc increased its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 104.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,612,368 shares of the insurance provider's stock after buying an additional 1,847,194 shares during the period. Man Group plc owned 0.69% of American International Group worth $269,230,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in American International Group during the fourth quarter valued at $636,782,000. Danske Bank A S grew its position in shares of American International Group by 7.7% in the 4th quarter. Danske Bank A S now owns 351,972 shares of the insurance provider's stock worth $30,111,000 after buying an additional 25,200 shares during the period. Lee Danner & Bass Inc. increased its stake in shares of American International Group by 194.2% in the 1st quarter. Lee Danner & Bass Inc. now owns 33,781 shares of the insurance provider's stock worth $2,542,000 after acquiring an additional 22,300 shares in the last quarter. Swiss National Bank increased its stake in shares of American International Group by 4.3% in the 1st quarter. Swiss National Bank now owns 1,583,564 shares of the insurance provider's stock worth $119,163,000 after acquiring an additional 65,400 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in American International Group during the 4th quarter valued at about $12,732,000. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 36,829 shares of the business's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider owned 556,004 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank Of Canada boosted their price objective on shares of American International Group from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Monday, August 10th. UBS Group raised their target price on shares of American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Cantor Fitzgerald lowered their target price on shares of American International Group from $92.00 to $90.00 and set an "overweight" rating for the company in a report on Monday, August 17th. JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research report on Monday, July 20th. Finally, HSBC cut their price target on American International Group from $94.00 to $88.00 and set a "buy" rating on the stock in a research note on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.28.

American International Group Stock Down 1.2%

NYSE:AIG opened at $76.44 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $39.97 billion, a P/E ratio of 13.97, a P/E/G ratio of 0.71 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 firm has a 50-day simple moving average of $77.77 and a two-hundred day simple moving average of $77.01.

American International Group (NYSE:AIG - Get Free Report) 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 the consensus estimate of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Analysts predict that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The firm also recently announced 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. 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%.

American International Group 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.

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