Insider Buying: American International Group, Inc. (NYSE:AIG) Director Purchases 10,000 Shares of Stock

American International Group, Inc. (NYSE:AIG) Director John G. Rice acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $770,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

American International Group Stock Performance

Shares of AIG traded up $1.03 during mid-day trading on Tuesday, reaching $75.37. The company’s stock had a trading volume of 4,304,750 shares, compared to its average volume of 3,972,424. American International Group, Inc. has a 1-year low of $68.04 and a 1-year high of $80.83. The stock has a market cap of $47.02 billion, a P/E ratio of -22.23, a PEG ratio of 5.87 and a beta of 1.05. The business has a 50-day simple moving average of $73.45 and a two-hundred day simple moving average of $74.40. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. As a group, equities research analysts anticipate that American International Group, Inc. will post 4.89 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 2.12%. American International Group’s payout ratio is currently -47.20%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on AIG shares. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. UBS Group decreased their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $79.00 price objective (down from $83.00) on shares of American International Group in a report on Wednesday, January 8th. Keefe, Bruyette & Woods increased their price target on American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price target on shares of American International Group in a research report on Wednesday, November 6th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $83.94.

Institutional Trading of American International Group

Several hedge funds have recently added to or reduced their stakes in AIG. Norges Bank acquired a new stake in American International Group during the 4th quarter worth approximately $718,013,000. Wellington Management Group LLP lifted its holdings in American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after purchasing an additional 6,119,996 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in American International Group during the 4th quarter worth approximately $135,325,000. Prana Capital Management LP lifted its holdings in American International Group by 280.5% during the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock worth $138,264,000 after purchasing an additional 1,391,859 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its holdings in American International Group by 2,134.0% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock worth $103,885,000 after purchasing an additional 1,363,108 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.