American International Group Sees Significant Increase in Short Interest (AIG)
Shares of American International Group (NYSE:AIG) were the recipient of a large growth in short interest in the month of August. As of August 15th, there was short interest totalling 20,945,564 shares, a growth of 64.3% from the July 31st total of 12,746,988 shares, American Banking News.com reports. Based on an average trading volume of 9,796,745 shares, the short-interest ratio is currently 2.1 days. Approximately 1.5% of the company’s shares are short sold.
A number of research firms have recently commented on AIG. Analysts at Deutsche Bank reiterated a “hold” rating on shares of American International Group in a research note on Wednesday, August 6th. They now have a $59.00 price target on the stock, up previously from $58.00. Separately, analysts at RBC Capital raised their price target on shares of American International Group from $64.00 to $65.00 in a research note on Wednesday, August 6th. They now have an “outperform” rating on the stock. Finally, analysts at Nomura reiterated a “neutral” rating on shares of American International Group in a research note on Tuesday, August 5th. They now have a $55.00 price target on the stock, up previously from $53.00. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $57.36.
American International Group (NYSE:AIG) opened at 55.23 on Friday. American International Group has a 52 week low of $46.80 and a 52 week high of $56.37. The stock’s 50-day moving average is $54.27 and its 200-day moving average is $52.76. The company has a market cap of $78.807 billion and a price-to-earnings ratio of 9.28.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Monday, August 4th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.05 by $0.20. The company had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $8.13 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts expect that American International Group will post $4.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Tuesday, September 9th.
American International Group, Inc (NYSE:AIG) is a global insurance company.
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