American International Group, Inc. (NYSE:AIG) Short Interest Update

American International Group, Inc. (NYSE:AIG) was the recipient of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 10,170,000 shares, an increase of 12.3% from the May 31st total of 9,060,000 shares. Based on an average trading volume of 4,090,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.5% of the company’s shares are sold short.

American International Group Trading Up 0.4 %

NYSE:AIG traded up $0.28 on Wednesday, reaching $75.61. 869,679 shares of the company’s stock were exchanged, compared to its average volume of 4,123,024. American International Group has a 52-week low of $56.88 and a 52-week high of $80.83. The firm has a market capitalization of $50.18 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.08. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.05. The business has a fifty day moving average of $76.74 and a 200-day moving average of $73.42.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.54% and a net margin of 9.98%. The business had revenue of $12.58 billion during the quarter, compared to the consensus estimate of $12.04 billion. During the same period in the previous year, the company posted $1.63 earnings per share. As a group, analysts expect that American International Group will post 7.02 earnings per share for the current year.

American International Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the insurance provider to purchase up to 19.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

American International Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from American International Group’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.12%. American International Group’s payout ratio is currently 23.88%.

Insider Activity

In other news, major shareholder International Group American sold 30,000,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $29.20, for a total transaction of $876,000,000.00. Following the transaction, the insider now owns 294,203,636 shares of the company’s stock, valued at approximately $8,590,746,171.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV grew its position in shares of American International Group by 10.2% during the second quarter. Massmutual Trust Co. FSB ADV now owns 2,720 shares of the insurance provider’s stock worth $202,000 after buying an additional 252 shares in the last quarter. GAMMA Investing LLC boosted its holdings in American International Group by 29.9% in the second quarter. GAMMA Investing LLC now owns 8,770 shares of the insurance provider’s stock valued at $651,000 after purchasing an additional 2,018 shares in the last quarter. Transcend Capital Advisors LLC boosted its holdings in American International Group by 89.1% in the second quarter. Transcend Capital Advisors LLC now owns 8,614 shares of the insurance provider’s stock valued at $640,000 after purchasing an additional 4,058 shares in the last quarter. Hamilton Wealth LLC acquired a new position in American International Group in the first quarter valued at approximately $366,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in American International Group by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock valued at $11,081,000 after purchasing an additional 10,581 shares in the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on AIG shares. Evercore ISI reduced their price objective on shares of American International Group from $81.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, June 27th. Wells Fargo & Company boosted their price objective on shares of American International Group from $80.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Citigroup boosted their price objective on shares of American International Group from $79.00 to $87.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of American International Group from $72.00 to $79.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Finally, Bank of America boosted their price objective on shares of American International Group from $82.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, June 11th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $81.38.

About American International Group

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.