American International Group, Inc. (NYSE:AIG) Director Acquires $770,000.00 in Stock

American International Group, Inc. (NYSE:AIG) Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The shares were bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

American International Group Stock Performance

American International Group stock opened at $76.27 on Friday. The firm’s 50 day simple moving average is $73.60 and its 200-day simple moving average is $74.44. The company has a market cap of $45.25 billion, a P/E ratio of -36.67, a price-to-earnings-growth ratio of 0.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a fifty-two week low of $68.15 and a fifty-two week high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, equities research analysts predict that American International Group, Inc. will post 6.32 EPS for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Monday, March 17th. American International Group’s payout ratio is presently -76.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Duncker Streett & Co. Inc. purchased a new position in American International Group during the fourth quarter valued at approximately $25,000. Asset Planning Inc acquired a new stake in shares of American International Group in the fourth quarter worth $26,000. True Wealth Design LLC acquired a new stake in shares of American International Group in the third quarter worth $29,000. BankPlus Trust Department acquired a new stake in shares of American International Group in the fourth quarter worth $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter worth $40,000. 90.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AIG has been the topic of several research analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $87.00 target price on shares of American International Group in a research note on Wednesday, November 6th. Morgan Stanley raised their target price on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Wells Fargo & Company raised their target price on shares of American International Group from $76.00 to $77.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. lowered their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, February 14th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $83.94.

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.