Saudi Central Bank Buys 17,525 Shares of American International Group, Inc. $AIG

Key Points

• Saudi Central Bank increased its AIG stake by 88% in the second quarter, acquiring 17,525 shares and bringing its holdings to 37,441 shares valued at approximately $2.79 million. Institutional investors collectively own 90.6% of AIG.
• AIG reported quarterly earnings of $2.00 per share, exceeding the $1.92 consensus estimate, although revenue of $7.08 billion fell short of expectations. The company declared a quarterly dividend of $0.50 per share, representing a 2.6% annualized yield.
• Analyst sentiment remains mixed, with AIG carrying a consensus “Hold” rating and an average price target of $88.37 versus its reported share price of $76.18. CEO Peter Zaffino separately sold 200,000 shares under a pre-arranged trading plan.

Saudi Central Bank increased its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 88.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,441 shares of the insurance provider's stock after acquiring an additional 17,525 shares during the period. Saudi Central Bank's holdings in American International Group were worth $2,790,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Modus Advisors LLC acquired a new position in shares of American International Group in the 4th quarter valued at approximately $27,000. Navalign LLC acquired a new stake in American International Group in the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new position in American International Group during the fourth quarter worth about $29,000. First Bancorp Inc ME bought a new position in shares of American International Group in the second quarter worth about $30,000. Finally, SHP Wealth Management bought a new stake in shares of American International Group during the 4th quarter valued at approximately $34,000. 90.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

AIG has been the subject of a number of research reports. Mizuho increased their price target on American International Group from $86.00 to $89.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Morgan Stanley dropped their target price on American International Group from $82.00 to $81.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 12th. Cantor Fitzgerald cut their price target on American International Group from $92.00 to $90.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Argus restated a "buy" rating and set a $90.00 price target on shares of American International Group in a report on Wednesday, September 2nd. Finally, HSBC dropped their price objective on shares of American International Group from $94.00 to $88.00 and set a "buy" rating for the company in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of "Hold" and an average price target of $88.37.

American International Group Stock Down 0.0%

AIG opened at $76.18 on Tuesday. The company has a 50 day moving average of $77.98 and a 200 day moving average of $76.95. The company has a market cap of $39.83 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.85 and a beta of 0.50. American International Group, Inc. has a 12 month low of $71.25 and a 12 month high of $87.29. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The insurance provider reported $2.00 EPS for the quarter, beating analysts' consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.81 EPS. On average, sell-side analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. 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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