American International Group, Inc. (NYSE:AIG – Get Rating) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 9,330,000 shares, a growth of 19.8% from the August 31st total of 7,790,000 shares. Currently, 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,300,000 shares, the days-to-cover ratio is currently 2.2 days.
American International Group Stock Down 0.4 %
Shares of AIG stock traded down $0.18 during trading on Friday, hitting $47.48. 5,209,229 shares of the company were exchanged, compared to its average volume of 5,215,023. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.32 and a current ratio of 0.32. The firm has a market capitalization of $36.10 billion, a price-to-earnings ratio of 3.12 and a beta of 1.17. The business’s 50-day simple moving average is $52.98 and its 200 day simple moving average is $55.93. American International Group has a twelve month low of $47.05 and a twelve month high of $65.73.
American International Group (NYSE:AIG – Get Rating) last posted its quarterly earnings results on Monday, August 8th. The insurance provider reported $1.19 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.04). The company had revenue of $10.90 billion for the quarter, compared to analyst estimates of $11.19 billion. American International Group had a return on equity of 7.12% and a net margin of 22.23%. During the same quarter in the prior year, the business posted $1.52 earnings per share. As a group, analysts forecast that American International Group will post 5.03 EPS for the current fiscal year.
American International Group Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend was Thursday, September 15th. American International Group’s dividend payout ratio is currently 8.40%.
Insiders Place Their Bets
In other news, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of $54.01, for a total value of $918,170.00. Following the transaction, the executive vice president now owns 45,444 shares of the company’s stock, valued at approximately $2,454,430.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder International Group American sold 80,000,000 shares of American International Group stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $21.00, for a total value of $1,680,000,000.00. Following the transaction, the insider now owns 501,145,000 shares of the company’s stock, valued at approximately $10,524,045,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Luciana Fato sold 17,000 shares of American International Group stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $54.01, for a total transaction of $918,170.00. Following the completion of the transaction, the executive vice president now directly owns 45,444 shares in the company, valued at approximately $2,454,430.44. The disclosure for this sale can be found here. 0.31% of the stock is owned by insiders.
Institutional Trading of American International Group
Institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC lifted its stake in American International Group by 94.5% in the first quarter. Quent Capital LLC now owns 2,688 shares of the insurance provider’s stock valued at $169,000 after acquiring an additional 1,306 shares during the last quarter. 180 Wealth Advisors LLC lifted its stake in American International Group by 13.7% in the second quarter. 180 Wealth Advisors LLC now owns 5,397 shares of the insurance provider’s stock valued at $281,000 after acquiring an additional 652 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in American International Group by 24.9% in the first quarter. Belpointe Asset Management LLC now owns 3,014 shares of the insurance provider’s stock valued at $189,000 after acquiring an additional 601 shares during the last quarter. Mackenzie Financial Corp lifted its stake in American International Group by 17.0% in the fourth quarter. Mackenzie Financial Corp now owns 364,136 shares of the insurance provider’s stock valued at $20,705,000 after acquiring an additional 53,013 shares during the last quarter. Finally, Seelaus Asset Management LLC lifted its stake in American International Group by 20.3% in the first quarter. Seelaus Asset Management LLC now owns 27,530 shares of the insurance provider’s stock valued at $1,728,000 after acquiring an additional 4,655 shares during the last quarter. 90.18% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
AIG has been the topic of several analyst reports. Barclays dropped their target price on shares of American International Group from $63.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 14th. StockNews.com downgraded shares of American International Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 2nd. Finally, Credit Suisse Group lifted their target price on shares of American International Group from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Monday, September 12th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.29.
American International Group Company Profile
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company’s General Insurance segment provides general liability, environmental, commercial automobile liability, workers’ compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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