Short Interest in American International Group, Inc. (NYSE:AIG) Grows By 23.3%

American International Group, Inc. (NYSE:AIG) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 16,230,000 shares, a growth of 23.3% from the February 28th total of 13,160,000 shares. Currently, 2.8% of the company’s stock are sold short. Based on an average trading volume of 4,770,000 shares, the short-interest ratio is presently 3.4 days.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AIG shares. Morgan Stanley raised their price target on shares of American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods raised their target price on shares of American International Group from $90.00 to $98.00 and gave the stock an “outperform” rating in a report on Tuesday. The Goldman Sachs Group boosted their target price on shares of American International Group from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Tuesday. HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Wednesday, March 5th. Finally, UBS Group lowered their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $86.00.

American International Group Price Performance

American International Group stock traded down $0.25 during mid-day trading on Tuesday, hitting $86.69. The stock had a trading volume of 6,705,636 shares, compared to its average volume of 4,372,024. American International Group has a one year low of $69.00 and a one year high of $87.51. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $51.43 billion, a P/E ratio of -41.68, a P/E/G ratio of 1.01 and a beta of 0.98. The firm’s 50 day moving average is $79.00 and its 200 day moving average is $76.15.

American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, sell-side analysts forecast that American International Group will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Insider Activity at American International Group

In other American International Group news, Director John G. Rice purchased 10,000 shares of the stock in a transaction dated Thursday, February 13th. The shares were purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $770,000. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On American International Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors grew its position in shares of American International Group by 1.4% during the fourth quarter. Capital Research Global Investors now owns 34,890,814 shares of the insurance provider’s stock valued at $2,540,050,000 after purchasing an additional 482,724 shares in the last quarter. Wellington Management Group LLP grew its holdings in American International Group by 7.2% during the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after buying an additional 1,791,964 shares in the last quarter. Diamond Hill Capital Management Inc. increased its stake in American International Group by 3.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after acquiring an additional 461,912 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after acquiring an additional 1,284,354 shares in the last quarter. Finally, Norges Bank bought a new position in shares of American International Group during the 4th quarter valued at approximately $718,013,000. Institutional investors own 90.60% of the company’s stock.

American International Group Company Profile

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.