American International Group Sees Unusually Large Options Volume (AIG)
American International Group, Inc. (NYSE:AIG) was the target of some unusual options trading on Wednesday. Stock investors acquired 12,371 call options on the company. This is an increase of 249% compared to the average daily volume of 3,541 call options.
A number of equities research analysts have recently weighed in on AIG shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of American International Group in a research note on Monday, April 24th. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research note on Wednesday, May 3rd. Morgan Stanley raised American International Group from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $62.87 to $61.82 in a research note on Tuesday, May 16th. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, July 5th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research note on Wednesday, July 5th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. American International Group presently has a consensus rating of “Buy” and a consensus target price of $69.02.
Several large investors have recently added to or reduced their stakes in the stock. Pathstone Family Office LLC boosted its stake in American International Group by 2,557.1% in the second quarter. Pathstone Family Office LLC now owns 1,488 shares of the insurance provider’s stock worth $2,227,000 after buying an additional 1,432 shares during the period. Israel Discount Bank of New York purchased a new stake in shares of American International Group during the first quarter valued at approximately $145,000. Peddock Capital Advisors LLC boosted its stake in shares of American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock valued at $159,000 after buying an additional 1,271 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock valued at $165,000 after buying an additional 14 shares during the last quarter. Finally, FTB Advisors Inc. boosted its stake in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock valued at $176,000 after buying an additional 1,711 shares during the last quarter. 87.76% of the stock is currently owned by institutional investors.
Shares of American International Group (NYSE AIG) opened at 61.34 on Monday. The stock’s market capitalization is $55.41 billion. The firm’s 50-day moving average price is $63.93 and its 200 day moving average price is $62.98. American International Group has a 1-year low of $57.35 and a 1-year high of $67.47.
American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. The company had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same quarter in the previous year, the company posted $0.98 earnings per share. Analysts expect that American International Group will post $5.28 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.09%. American International Group’s dividend payout ratio (DPR) is presently -711.07%.
American International Group announced that its board has authorized a share buyback plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
TRADEMARK VIOLATION NOTICE: This article was first posted by Watch List News and is the property of of Watch List News. If you are reading this article on another publication, it was copied illegally and reposted in violation of US and international copyright laws. The original version of this article can be read at https://www.watchlistnews.com/american-international-group-sees-unusually-large-options-volume-aig/1511866.html.
About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
Receive News & Ratings for American International Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.