American International Group Inc (NYSE:AIG) was the target of a large decrease in short interest in June. As of June 30th, there was short interest totalling 16,057,800 shares, a decrease of 10.2% from the May 30th total of 17,884,000 shares. Currently, 1.9% of the company’s stock are short sold. Based on an average trading volume of 4,930,000 shares, the days-to-cover ratio is presently 3.3 days.
A number of analysts recently issued reports on the company. Bank of America reissued a “buy” rating and issued a $85.00 target price (up from $78.00) on shares of Everbridge in a research report on Tuesday, May 7th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Morgan Stanley upped their target price on Intact Financial from C$125.00 to C$128.00 in a research report on Thursday, May 30th. Deutsche Bank cut American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price for the company. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Finally, Wells Fargo & Co set a $70.00 target price on MSC Industrial Direct and gave the company a “market perform” rating in a research report on Thursday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.86.
Shares of NYSE AIG opened at $56.27 on Friday. The firm has a market cap of $48.94 billion, a PE ratio of 33.90, a PEG ratio of 1.03 and a beta of 1.19. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58. American International Group has a 52-week low of $36.16 and a 52-week high of $56.36. The firm has a 50-day moving average price of $53.35.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.52. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. The company had revenue of $12.90 billion during the quarter, compared to analysts’ expectations of $12.25 billion. During the same period last year, the firm earned $1.04 EPS. As a group, research analysts forecast that American International Group will post 4.96 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.27%. American International Group’s payout ratio is 109.40%.
In other American International Group news, Director Therese M. Vaughan acquired 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average cost of $51.71 per share, with a total value of $51,710.00. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $51,710. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AIG. Deprince Race & Zollo Inc. lifted its position in American International Group by 7.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 687,010 shares of the insurance provider’s stock worth $27,075,000 after acquiring an additional 49,863 shares during the period. First Trust Advisors LP lifted its position in American International Group by 77.2% during the 4th quarter. First Trust Advisors LP now owns 45,175 shares of the insurance provider’s stock worth $1,780,000 after acquiring an additional 19,682 shares during the period. Kinneret Advisory LLC acquired a new stake in American International Group during the 4th quarter worth approximately $168,000. Geode Capital Management LLC lifted its position in American International Group by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 10,338,730 shares of the insurance provider’s stock worth $406,656,000 after acquiring an additional 655,288 shares during the period. Finally, Clearbridge LLC lifted its position in American International Group by 24.4% during the 4th quarter. Clearbridge LLC now owns 275,815 shares of the insurance provider’s stock worth $10,870,000 after acquiring an additional 54,135 shares during the period. 90.05% of the stock is owned by institutional investors.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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