Short Interest in American International Group Inc. (AIG) Decreases By 33.3%
American International Group Inc. (NYSE:AIG) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 13,083,479 shares, a drop of 33.3% from the September 15th total of 19,624,316 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily trading volume, of 7,762,228 shares, the days-to-cover ratio is presently 1.7 days.
Several hedge funds have recently added to or reduced their stakes in AIG. RPg Family Wealth Advisory LLC raised its stake in American International Group by 59.8% in the first quarter. RPg Family Wealth Advisory LLC now owns 2,483 shares of the insurance provider’s stock worth $134,000 after buying an additional 929 shares during the last quarter. Mountain Lake Investment Management LLC acquired a new stake in American International Group during the first quarter worth about $135,000. Chicago Partners Investment Group LLC raised its stake in American International Group by 0.6% in the second quarter. Chicago Partners Investment Group LLC now owns 2,601 shares of the insurance provider’s stock worth $138,000 after buying an additional 16 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in American International Group by 0.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 3,303 shares of the insurance provider’s stock worth $175,000 after buying an additional 17 shares during the last quarter. Finally, Norman Fields Gottscho Capital Management LLC acquired a new stake in American International Group during the third quarter worth about $208,000. Institutional investors own 84.69% of the company’s stock.
Several research analysts have weighed in on the company. Atlantic Securities upgraded American International Group from a “neutral” rating to an “overweight” rating and set a $60.00 target price on the stock in a research note on Thursday, June 30th. They noted that the move was a valuation call. Vetr downgraded American International Group from a “strong-buy” rating to a “buy” rating and set a $58.24 target price on the stock. in a research note on Monday, July 11th. Barclays PLC lifted their target price on American International Group from $60.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, September 30th. Zacks Investment Research downgraded American International Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 6th. Finally, Deutsche Bank AG lifted their target price on American International Group from $58.00 to $59.00 and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. American International Group currently has an average rating of “Buy” and an average price target of $65.10.
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Shares of American International Group (NYSE:AIG) opened at 59.86 on Monday. The stock’s market cap is $64.09 billion. American International Group has a 52-week low of $48.41 and a 52-week high of $64.31. The firm’s 50-day moving average price is $59.12 and its 200-day moving average price is $56.38.
American International Group (NYSE:AIG) last released its quarterly earnings data on Tuesday, August 2nd. The insurance provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.05. American International Group had a positive return on equity of 1.33% and a negative net margin of 0.64%. During the same quarter last year, the firm posted $1.39 earnings per share. On average, equities research analysts forecast that American International Group will post $4.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th were issued a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. American International Group’s payout ratio is currently -799.95%.
American International Group Company Profile
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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