American International Group, Inc. (NYSE:AIG) Sees Large Increase in Short Interest

American International Group, Inc. (NYSE:AIG) was the recipient of a large growth in short interest during the month of 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 shares are short sold. Based on an average daily volume of 4,770,000 shares, the days-to-cover ratio is presently 3.4 days.

American International Group Stock Up 1.1 %

American International Group stock opened at $87.77 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a fifty day simple moving average of $79.26 and a 200 day simple moving average of $76.23. The company has a market cap of $52.08 billion, a P/E ratio of -42.20, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98.

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

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is presently -76.92%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group increased their target price on shares of American International Group from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Tuesday. Barclays lifted their price target on shares of American International Group from $90.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on shares of American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Finally, UBS Group dropped their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.76.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was bought at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of institutional investors have recently bought and sold shares of AIG. Norges Bank acquired a new position in American International Group in the 4th quarter valued at $718,013,000. Wellington Management Group LLP increased its position in American International Group by 32.4% during the third quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after acquiring an additional 6,119,996 shares during the period. Balyasny Asset Management L.P. acquired a new stake in American International Group in the 4th quarter worth about $135,325,000. Prana Capital Management LP boosted its holdings in American International Group by 280.5% in the 3rd quarter. Prana Capital Management LP now owns 1,888,072 shares of the insurance provider’s stock valued at $138,264,000 after purchasing an additional 1,391,859 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of American International Group by 2,134.0% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,426,985 shares of the insurance provider’s stock worth $103,885,000 after purchasing an additional 1,363,108 shares during the period. Institutional investors and hedge funds 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.