The United States Treasury Department has started an offering of $4.5 billion in American International Group, Inc (NYSE:AIG) stocks, and the supported insurer aims to repurchase almost $3 billion of the stock.
The Treasury reported in a statement on Friday that Citigroup Inc (NYSE:C), Deutsche Bank AG (USA) (NYSE:DB), Goldman Sachs Group, Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM) are managing the sale, and other financial companies are anticipated to be added.
A $4.5 billion sale would be the minimum of 4 offerings of American International Group stock by the U.S. Treasury Department. The United States holding was lower to 61% from 92% in the primary 3 sales, which boosted over $17 billion for the Treasury.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Citigroup Inc. (NYSE:C) increased +4.66% to settle at $27.40, Goldman Sachs Group, Inc. (NYSE:GS) moved up +3.24% to end at $100.98 while Wells Fargo & Company (NYSE:WFC) jumped +3.00% to finish on Friday at $34.34.
American International Group, Inc. (NYSE:AIG) last session volume of 24.44 million shares was higher than its average volume of 9.34 million shares. The stock after opening at $31.28 hit high price of $31.43 and then closed at $31.34 by scoring +1.62%.
AIG generated revenue of 65.24 billion in the following twelve months and earned $20.85 billion. The Company showed a positive +33.09% in the net profit margin and as well as in its operating margin which remained 7.51%. Company’s annual sales growth for the past five year was -10.74%.
The AIG past twelve months price to sales ratio was 0.86 and price to cash ratio remained 42.76. As far as the returns are concern, the AIG return on equity was recorded as 22.13% and increased 3.70% return on asset.
The stock showed weekly downbeat performance of -0.73% which was maintained for the month at -1.97%. Likewise the negative performance for the quarter was recorded as -4.54% and for the year was +18.71% while the YTD performance remained at +35.09%.
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