Despite Fresh Highs, Berkowitz & Fairholme Keep Adding AIG Shares (AIG)

Banking, finance, and taxes

Published: December 13, 2010 4:50 pm

Last Updated: April 27, 2020 8:07 pm

American International Group Inc. (NYSE: AIG) keeps seeing Fairholme Capital Management, L.L.C. and Bruce Berkowitz take a larger stake in the company. AIG shares hit a new 52-week high just last week after the government and the company outlined the restructuring of the government’s ownership of giant insurer. That move to fresh highs has not deterred Berkowitz as of yet.

We took a look at the holding purchases and the following numbers were available with volume-weighted average prices (VWAP) listed as well:

12/09/2010 bought 478,665 shares at $45.11 VWAP with final holdings of 39,257,539 shares.
12/10/2010 bought 1,175,400 shares at $48.90 VWAP with final holdings of 40,432,939 shares.
12/10/2010 bought 1,600 shares listed as $48.95, but the new total holdings is listed as being 44,294,324 shares on an indirect basis.

AIG shares closed down almost 0.9% at $48.52 on the day and shares are up almost 0.9% at $48.94 in the after-hours trading session on Monday.

JON C. OGG

Get Ready To Retire ^(Sponsored)

Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.

Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.

Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future