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

American International Group, Inc. (NYSE:AIG) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,850,000 shares, a growth of 8.9% from the August 15th total of 8,130,000 shares. Based on an average trading volume of 4,480,000 shares, the days-to-cover ratio is currently 2.0 days. Currently, 1.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AIG shares. Barclays began coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price target for the company. Wells Fargo & Company dropped their target price on shares of American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Evercore ISI reduced their price target on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a research report on Thursday, June 27th. Citigroup decreased their price objective on shares of American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday, July 23rd. Finally, Piper Sandler cut their target price on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One research 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.88.

Insider Buying and Selling

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total transaction of $200,000,012.10. Following the transaction, the insider now owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 14,964,738 shares of company stock valued at $400,732,195 over the last quarter. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AIG. Fortitude Family Office LLC increased its stake in American International Group by 199.2% during the second quarter. Fortitude Family Office LLC now owns 359 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 239 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in American International Group during the 2nd quarter valued at $27,000. Rise Advisors LLC bought a new stake in American International Group in the first quarter worth $29,000. Valued Wealth Advisors LLC boosted its stake in American International Group by 303.3% during the first quarter. Valued Wealth Advisors LLC now owns 367 shares of the insurance provider’s stock worth $29,000 after buying an additional 276 shares during the period. Finally, Versant Capital Management Inc increased its position in American International Group by 326.0% during the second quarter. Versant Capital Management Inc now owns 443 shares of the insurance provider’s stock valued at $33,000 after acquiring an additional 339 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

NYSE:AIG traded down $0.33 on Wednesday, reaching $73.27. 3,648,043 shares of the company’s stock traded hands, compared to its average volume of 4,136,912. The stock has a 50-day simple moving average of $74.68 and a 200-day simple moving average of $75.68. American International Group has a 12 month low of $57.72 and a 12 month high of $80.83. The firm 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 company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings data 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 company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.64 billion. During the same period last year, the business earned $1.75 earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. Equities research analysts forecast that American International Group will post 5.24 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Monday, September 16th. American International Group’s payout ratio is 23.88%.

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.