American International Group, Inc. (NYSE:AIG) Sees Significant Growth in Short Interest

American International Group, Inc. (NYSE:AIGGet Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 8,550,000 shares, an increase of 19.2% from the February 29th total of 7,170,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily trading volume, of 3,850,000 shares, the short-interest ratio is currently 2.2 days.

Insider Buying and Selling at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total value of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John C. Inglis purchased 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Company insiders own 0.49% of the company’s stock.

Hedge Funds Weigh In On American International Group

Several hedge funds and other institutional investors have recently modified their holdings of AIG. Norges Bank purchased a new position in shares of American International Group during the fourth quarter valued at about $736,063,000. Morgan Stanley boosted its stake in American International Group by 55.1% during the fourth quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock worth $665,247,000 after acquiring an additional 3,738,346 shares in the last quarter. Sessa Capital IM L.P. bought a new stake in American International Group during the first quarter worth about $73,040,000. Comerica Bank bought a new position in shares of American International Group in the second quarter worth approximately $80,676,000. Finally, Deutsche Bank AG lifted its stake in shares of American International Group by 58.1% in the first quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock worth $185,677,000 after buying an additional 1,354,652 shares in the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

AIG has been the subject of several research analyst reports. UBS Group raised their price target on shares of American International Group from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. TD Cowen began coverage on shares of American International Group in a research note on Wednesday, January 10th. They issued a “market perform” rating and a $78.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of American International Group from $66.00 to $74.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 21st. Bank of America lowered shares of American International Group from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Finally, HSBC began coverage on shares of American International Group in a research note on Thursday, December 28th. They issued a “buy” rating and a $86.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American International Group currently has an average rating of “Moderate Buy” and an average target price of $74.47.

Check Out Our Latest Analysis on American International Group

American International Group Price Performance

Shares of NYSE:AIG opened at $77.64 on Tuesday. The stock has a market cap of $52.87 billion, a PE ratio of 15.56, a PEG ratio of 1.10 and a beta of 1.03. The company’s fifty day moving average is $72.36 and its 200 day moving average is $67.05. American International Group has a 52 week low of $48.91 and a 52 week high of $78.70. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44.

American International Group (NYSE:AIGGet Free Report) last released its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that American International Group will post 7.1 earnings per share for the current year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s payout ratio is 28.86%.

About American International Group

(Get Free Report)

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.

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