Insider Buying: American International Group (NYSE:AIG) Director Purchases 128 Shares of Stock

Key Points

• AIG Director John Inglis bought 128 shares at an average $78.41, spending about $10,036 and increasing his holdings by 4.78% to 2,808 shares.
• AIG reported quarterly EPS of $2.06, beating the $1.88 analyst consensus, while revenue of $7.44 billion slightly exceeded estimates.
• The company declared a quarterly dividend of $0.50 per share, equivalent to an annualized $2.00 dividend and a 2.5% yield.

American International Group, Inc. (NYSE:AIG - Get Free Report) Director John Inglis acquired 128 shares of the stock in a transaction on Monday, November 9th. The stock was bought at an average price of $78.41 per share, for a total transaction of $10,036.48. Following the transaction, the director owned 2,808 shares in the company, valued at approximately $220,175.28. This represents a 4.78% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

American International Group Stock Performance

Shares of NYSE:AIG traded up $1.82 during trading on Monday, hitting $79.57. 3,318,743 shares of the stock traded hands, compared to its average volume of 4,312,379. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $41.25 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.82 and a beta of 0.48. The company has a fifty day moving average price of $77.46 and a two-hundred day moving average price of $76.94. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The insurance provider reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.88 by $0.18. American International Group had a net margin of 11.86% and a return on equity of 10.86%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the firm posted $2.20 earnings per share. As a group, equities analysts predict that American International Group, Inc. will post 8.10 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. American International Group's dividend payout ratio is presently 32.57%.

Analysts Set New Price Targets

AIG has been the topic of several research analyst reports. Barclays raised their price objective on American International Group from $80.00 to $81.00 and gave the company an "equal weight" rating in a report on Friday, August 7th. JPMorgan Chase & Co. upped their target price on American International Group from $86.00 to $90.00 and gave the stock a "neutral" rating in a research note on Monday, July 20th. Wells Fargo & Company increased their target price on American International Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research report on Thursday. UBS Group upped their price objective on shares of American International Group from $98.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, October 6th. Finally, Piper Sandler upped their price objective on shares of American International Group from $84.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday. Eight investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $87.84.

Hedge Funds Weigh In On American International Group

A number of hedge funds have recently made changes to their positions in AIG. First Bancorp Inc ME purchased a new position in American International Group in the 2nd quarter valued at $30,000. Fiduciary Financial Advisors acquired a new stake in shares of American International Group in the second quarter valued at about $34,000. Center for Financial Planning Inc. raised its position in shares of American International Group by 52.0% in the third quarter. Center for Financial Planning Inc. now owns 456 shares of the insurance provider's stock valued at $34,000 after buying an additional 156 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of American International Group by 71.6% in the third quarter. Elevation Wealth Partners LLC now owns 556 shares of the insurance provider's stock worth $41,000 after buying an additional 232 shares in the last quarter. Finally, AlTi Global Inc. purchased a new position in shares of American International Group in the third quarter worth about $41,000. Institutional investors and hedge funds own 90.60% of the company's stock.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance company headquartered in New York. Founded in Shanghai in 1919, the company has grown into an insurer serving businesses and individuals in the United States and international markets.

AIG's principal business is general insurance, including commercial and personal property and casualty coverage. Its offerings include products and services for businesses, multinational organizations and individuals, with coverage spanning areas such as property, liability, accident and specialty risks.

AIG provides insurance through its subsidiaries and operates across a range of markets worldwide.

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