American International Group Inc (AIG) Short Interest Down 26.1% in December
American International Group Inc (NYSE:AIG) was the recipient of a large drop in short interest during the month of December. As of December 29th, there was short interest totalling 18,111,254 shares, a drop of 26.1% from the December 15th total of 24,507,331 shares. Currently, 2.0% of the shares of the stock are sold short. Based on an average trading volume of 3,735,787 shares, the days-to-cover ratio is currently 4.8 days.
Shares of American International Group (AIG) opened at $61.06 on Wednesday. The firm has a market capitalization of $54,890.00, a P/E ratio of -24.52, a P/E/G ratio of 1.00 and a beta of 1.18. American International Group has a 12-month low of $57.85 and a 12-month high of $67.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.26 and a quick ratio of 0.26.
American International Group (NYSE:AIG) last released its earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($2.45). The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.05 billion. American International Group had a positive return on equity of 3.43% and a negative net margin of 5.07%. During the same quarter in the previous year, the firm earned $1.23 EPS. analysts expect that American International Group will post 2.66 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a $0.32 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.28 dividend on an annualized basis and a yield of 2.10%. American International Group’s payout ratio is -51.41%.
AIG has been the subject of a number of research analyst reports. Zacks Investment Research upgraded American International Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Deutsche Bank upgraded American International Group from a “sell” rating to a “hold” rating and lifted their price target for the company from $58.00 to $59.00 in a research report on Wednesday, December 6th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $74.00 price target on shares of American International Group in a research report on Wednesday, December 6th. Wells Fargo & Co set a $75.00 price target on American International Group and gave the company a “buy” rating in a research report on Tuesday, October 17th. Finally, Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target for the company. in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $67.41.
Large investors have recently added to or reduced their stakes in the stock. Connable Office Inc. bought a new stake in American International Group in the 3rd quarter worth approximately $1,563,000. Synovus Financial Corp lifted its position in American International Group by 1.9% in the third quarter. Synovus Financial Corp now owns 93,385 shares of the insurance provider’s stock valued at $5,715,000 after purchasing an additional 1,727 shares during the last quarter. Torray LLC lifted its position in American International Group by 26.0% in the third quarter. Torray LLC now owns 190,836 shares of the insurance provider’s stock valued at $11,715,000 after purchasing an additional 39,368 shares during the last quarter. Kingdon Capital Management L.L.C. lifted its position in American International Group by 215.7% in the second quarter. Kingdon Capital Management L.L.C. now owns 738,121 shares of the insurance provider’s stock valued at $46,147,000 after purchasing an additional 504,350 shares during the last quarter. Finally, Clinton Group Inc. lifted its position in American International Group by 13.2% in the second quarter. Clinton Group Inc. now owns 25,137 shares of the insurance provider’s stock valued at $1,572,000 after purchasing an additional 2,926 shares during the last quarter. Institutional investors own 85.89% of the company’s stock.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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