Rose Capital Advisors LLC Invests $1.92 Million in American International Group, Inc. $AIG

Key Points

• Rose Capital Advisors initiated a $1.92 million position in AIG during the second quarter, purchasing 25,760 shares. Institutional investors collectively own 90.6% of the insurer.
• AIG’s CEO, Peter Zaffino, sold 200,000 shares worth $15.3 million under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 25.23%.
• AIG beat quarterly earnings expectations with $2.00 in EPS versus $1.92 forecast, while analysts maintained a consensus “Hold” rating and an average price target of $88.37. The company also declared a quarterly dividend of $0.50 per share, yielding about 2.6% annually.

Rose Capital Advisors LLC bought a new position in shares of American International Group, Inc. (NYSE:AIG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,760 shares of the insurance provider's stock, valued at approximately $1,920,000. American International Group comprises approximately 1.0% of Rose Capital Advisors LLC's investment portfolio, making the stock its 24th biggest position.

Other hedge funds have also added to or reduced their stakes in the company. Modus Advisors LLC acquired a new stake in American International Group in the 4th quarter valued at $27,000. Navalign LLC acquired a new position in shares of American International Group during the 4th quarter worth about $29,000. Mcguire Capital Advisors Inc. acquired a new position in shares of American International Group during the 4th quarter worth about $29,000. First Bancorp Inc ME acquired a new position in American International Group during the second quarter valued at approximately $30,000. Finally, SHP Wealth Management bought a new position in American International Group in the fourth quarter valued at approximately $34,000. Institutional investors own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total value of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares of the company's stock, valued at $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays boosted their price target on American International Group from $80.00 to $81.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Piper Sandler increased their price objective on American International Group from $80.00 to $84.00 and gave the company a "neutral" rating in a report 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. Wells Fargo & Company lowered 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 report on Monday, August 10th. Finally, The Goldman Sachs Group upped 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 report on Wednesday, July 1st. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, American International Group has a consensus rating of "Hold" and an average target price of $88.37.

American International Group Stock Performance

AIG opened at $76.18 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.29. The business has a 50 day moving average of $77.96 and a 200-day moving average of $76.99. The stock has a market cap of $39.83 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 0.85 and a beta of 0.50.

American International Group (NYSE:AIG - Get Free Report) last posted its earnings results on Friday, August 7th. 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 11.05% and a net margin of 11.13%.The business had revenue of $7.08 billion for the quarter, compared to analyst estimates of $7.25 billion. During the same period in the previous year, the firm earned $1.81 EPS. On average, equities research analysts expect that American International Group, Inc. will post 8.02 earnings per share for the current year.

American International Group Dividend Announcement

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

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.

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