American International Group, Inc. (NYSE:AIG) Sees Large Increase in Short Interest

American International Group, Inc. (NYSE:AIG) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 8,850,000 shares, an increase of 8.9% from the August 15th total of 8,130,000 shares. Based on an average daily trading volume, of 4,480,000 shares, the short-interest ratio is presently 2.0 days. Approximately 1.4% of the shares of the stock are short sold.

American International Group Price Performance

AIG traded down $0.33 during trading on Wednesday, hitting $73.27. 3,648,043 shares of the company traded hands, compared to its average volume of 4,136,912. The company has a market cap of $48.63 billion, a PE ratio of 10.94, a P/E/G ratio of 3.60 and a beta of 1.06. The stock’s 50-day simple moving average is $74.68 and its two-hundred day simple moving average is $75.68. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. American International Group has a 1 year low of $57.72 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last released its quarterly earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The business had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company earned $1.75 EPS. American International Group’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts anticipate that American International Group will post 5.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.40 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. American International Group’s dividend payout ratio (DPR) is presently 23.88%.

Wall Street Analyst Weigh In

AIG has been the subject of several analyst reports. Barclays initiated coverage on shares of American International Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price target for the company. Bank of America raised their price target on American International Group from $81.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Evercore ISI lowered their price objective on American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday, June 27th. Morgan Stanley dropped their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, Wells Fargo & Company reduced their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $83.88.

Insiders Place Their Bets

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 14,964,738 shares of company stock valued at $400,732,195 in the last quarter. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Y.D. More Investments Ltd bought a new stake in American International Group during the 2nd quarter valued at $27,000. Fortitude Family Office LLC boosted its stake in American International Group by 199.2% in the 2nd quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 239 shares in the last quarter. Valued Wealth Advisors LLC grew its holdings in shares of American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock valued at $29,000 after buying an additional 276 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of American International Group in the first quarter valued at about $29,000. Finally, Versant Capital Management Inc raised its position in American International Group by 326.0% during the 2nd quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock worth $33,000 after buying an additional 339 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.