AIG CEO Zaffino sells 200,000 shares for $14.9M in 2 transactions; stock down 7.0% in 30 days and 3.7% in 90 days from trade date
Peter Zaffino, AIG's Chairman & CEO, executed 2 separate sales totaling 200,000 (200.0K shares) for $14,904,432.48 on 2024-06-12, reducing his holdings by 28.4% from 705,420 shares to 505,420 shares. The sales occurred at blended average price $74.52, which now sits 1.5% above the current price of $73.42; the stock has declined 7.0% over 30 days and 3.7% over 90 days from the trade date. Zaffino's cross-ticker track record shows 2 prior sells with a 90-day well-timed rate of 100.00%, and at AIG specifically, both of his 2 prior sales on 2024-03-15 were well-timed at the 90-day mark (showing negative 90-day returns of -2.9% and -2.3%). The company's fundamentals show annual revenue growth of -17.1%, a depressed P/E of 10.09, and a recent quarterly net income of $1.2B on $12.6B revenue. This large reduction of executive holdings by the top officer, combined with a pattern of well-timed prior exits at this ticker and weakening revenue trends, warrants investor attention to whether the sale signals concerns about near-term direction.