American International Group Inc (NYSE:AIG) Short Interest Update

American International Group Inc (NYSE:AIG) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 16,979,700 shares, an increase of 7.9% from the June 30th total of 15,737,000 shares. Currently, 2.0% of the shares of the company are short sold. Based on an average trading volume of 4,220,000 shares, the days-to-cover ratio is presently 4.0 days.

AIG stock opened at $53.74 on Friday. The company’s 50 day simple moving average is $55.29 and its 200-day simple moving average is $49.13. The firm has a market capitalization of $47.91 billion, a PE ratio of 45.93, a P/E/G ratio of 0.98 and a beta of 1.19. American International Group has a 12 month low of $36.16 and a 12 month high of $57.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.27 and a quick ratio of 0.27.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, August 7th. The insurance provider reported $1.43 EPS for the quarter, beating the consensus estimate of $1.17 by $0.26. The business had revenue of $12.16 billion for the quarter, compared to analyst estimates of $12.07 billion. American International Group had a negative net margin of 0.24% and a positive return on equity of 3.04%. During the same period in the prior year, the business earned $1.05 earnings per share. As a group, sell-side analysts anticipate that American International Group will post 5.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Tuesday, September 17th will be given a $0.32 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 2.38%. American International Group’s dividend payout ratio is presently 109.40%.

In related news, Director Therese M. Vaughan bought 1,000 shares of the stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $51.71 per share, for a total transaction of $51,710.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $51,710. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seraina Macia sold 7,550 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $56.00, for a total transaction of $422,800.00. Following the transaction, the chief executive officer now owns 11,055 shares in the company, valued at $619,080. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Mutual Advisors LLC purchased a new position in shares of American International Group during the second quarter valued at approximately $247,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of American International Group by 19.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 18,491 shares of the insurance provider’s stock valued at $985,000 after buying an additional 3,063 shares during the period. Pictet Asset Management Ltd. lifted its stake in shares of American International Group by 3.5% during the second quarter. Pictet Asset Management Ltd. now owns 446,503 shares of the insurance provider’s stock valued at $23,790,000 after buying an additional 15,000 shares during the period. Nuveen Asset Management LLC purchased a new position in American International Group during the second quarter worth approximately $485,778,000. Finally, Andra AP fonden raised its stake in American International Group by 8.8% during the second quarter. Andra AP fonden now owns 33,300 shares of the insurance provider’s stock worth $1,774,000 after purchasing an additional 2,700 shares during the period. Institutional investors and hedge funds own 89.88% of the company’s stock.

AIG has been the topic of several recent analyst reports. William Blair upgraded shares of American International Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, July 18th. Deutsche Bank lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price on the stock. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Bank of America restated a “buy” rating and set a $56.00 target price (up from $50.00) on shares of American International Group in a research report on Tuesday, May 7th. Barclays upped their target price on shares of American International Group from $50.00 to $60.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 22nd. Finally, Wells Fargo & Co restated a “buy” rating and set a $62.00 target price on shares of American International Group in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $57.03.

American International Group Company Profile

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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