Insider Buying: American International Group Inc (AIG) Director Acquires 1,000 Shares of Stock

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American International Group Inc (NYSE:AIG) Director Therese M. Vaughan purchased 1,000 shares of American International Group stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average price of $51.71 per share, for a total transaction of $51,710.00. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $51,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NYSE:AIG traded up $0.56 during mid-day trading on Friday, hitting $52.76. 2,950,040 shares of the company’s stock were exchanged, compared to its average volume of 5,556,392. American International Group Inc has a one year low of $36.16 and a one year high of $56.36. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a market capitalization of $45.40 billion, a P/E ratio of 45.09, a PEG ratio of 0.96 and a beta of 1.40.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.06 by $0.52. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.25 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. On average, equities research analysts expect that American International Group Inc will post 4.96 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, June 13th. American International Group’s payout ratio is currently 109.40%.

American International Group declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 13th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to reacquire up to 5.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Hedge funds and other institutional investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund lifted its position in American International Group by 4,353.6% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,224,577 shares of the insurance provider’s stock valued at $336,000 after purchasing an additional 12,927,638 shares during the period. Norges Bank purchased a new stake in shares of American International Group in the fourth quarter worth $354,739,000. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of American International Group by 49.9% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 22,573,630 shares of the insurance provider’s stock worth $889,627,000 after purchasing an additional 7,516,503 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of American International Group in the fourth quarter worth $291,537,000. Finally, Macquarie Group Ltd. increased its stake in shares of American International Group by 24.8% in the fourth quarter. Macquarie Group Ltd. now owns 16,690,982 shares of the insurance provider’s stock worth $657,792,000 after purchasing an additional 3,312,810 shares in the last quarter. Hedge funds and other institutional investors own 90.10% of the company’s stock.

Several equities analysts recently issued reports on AIG shares. Royal Bank of Canada reiterated an “outperform” rating and set a $56.00 price target on shares of American International Group in a research report on Wednesday, May 8th. Wells Fargo & Co reissued a “buy” rating and set a $54.00 price objective on shares of American International Group in a research note on Wednesday, February 13th. Compass Point raised shares of American International Group from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $44.00 to $56.00 in a research note on Friday, February 15th. Zacks Investment Research raised shares of American International Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, ValuEngine lowered shares of American International Group from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. American International Group presently has an average rating of “Buy” and an average target price of $54.64.

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About American International Group

American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.

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