American International Group, Inc. (NYSE:AIG) Short Interest Down 28.0% in August

American International Group, Inc. (NYSE:AIG) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 14,710,000 shares, a drop of 28.0% from the August 15th total of 20,430,000 shares. Based on an average daily volume of 4,100,000 shares, the short-interest ratio is presently 3.6 days. Approximately 1.7% of the shares of the stock are short sold.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AIG. Stephens Inc. AR grew its holdings in shares of American International Group by 0.7% during the second quarter. Stephens Inc. AR now owns 28,514 shares of the insurance provider’s stock valued at $1,357,000 after buying an additional 193 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of American International Group by 1.6% during the second quarter. CIBC Private Wealth Group LLC now owns 16,963 shares of the insurance provider’s stock valued at $807,000 after buying an additional 275 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of American International Group by 1.1% during the second quarter. Kestra Private Wealth Services LLC now owns 25,373 shares of the insurance provider’s stock valued at $1,208,000 after buying an additional 277 shares during the last quarter. Baker Avenue Asset Management LP grew its holdings in shares of American International Group by 0.7% during the first quarter. Baker Avenue Asset Management LP now owns 38,653 shares of the insurance provider’s stock valued at $1,786,000 after buying an additional 285 shares during the last quarter. Finally, Savant Capital LLC grew its holdings in shares of American International Group by 4.4% during the second quarter. Savant Capital LLC now owns 7,503 shares of the insurance provider’s stock valued at $357,000 after buying an additional 315 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the company. raised their price objective on American International Group from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Monday, June 21st. Wolfe Research started coverage on American International Group in a research report on Monday, August 16th. They issued an “outperform” rating and a $63.00 price target for the company. Wells Fargo & Company lifted their price target on American International Group from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, August 9th. Royal Bank of Canada lifted their price target on American International Group from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Finally, TheStreet upgraded American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, September 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, American International Group presently has a consensus rating of “Hold” and an average target price of $51.15.

AIG stock traded down $0.58 during trading on Monday, hitting $53.23. 7,959,324 shares of the company’s stock traded hands, compared to its average volume of 4,370,331. The firm has a market capitalization of $45.52 billion, a P/E ratio of 11.28, a PEG ratio of 1.11 and a beta of 1.37. The business has a fifty day simple moving average of $51.57 and a two-hundred day simple moving average of $49.72. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 0.54. American International Group has a 1 year low of $25.57 and a 1 year high of $55.78.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 4th. The insurance provider reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.32. The company had revenue of $11.99 billion for the quarter, compared to analyst estimates of $11.56 billion. American International Group had a net margin of 9.35% and a return on equity of 5.83%. On average, equities research analysts predict that American International Group will post 4.92 EPS for the current fiscal year.

American International Group declared that its board has initiated a stock buyback program on Thursday, August 5th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the insurance provider to repurchase up to 14.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, September 15th. American International Group’s dividend payout ratio is currently 50.79%.

American International Group Company Profile

American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.

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