Short Interest in American International Group, Inc. (NYSE:AIG) Drops By 8.2%

American International Group, Inc. (NYSE:AIG) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 7,850,000 shares, a drop of 8.2% from the March 15th total of 8,550,000 shares. Based on an average daily volume of 3,950,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AIG. BMO Capital Markets decreased their target price on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Piper Sandler reaffirmed an “overweight” rating and set a $87.00 target price on shares of American International Group in a report on Monday, April 1st. Royal Bank of Canada upped their price objective on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. HSBC assumed coverage on shares of American International Group in a report on Thursday, December 28th. They set a “buy” rating and a $86.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a report on Monday. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and an average target price of $79.06.

American International Group Price Performance

Shares of NYSE:AIG traded up $0.77 during trading on Tuesday, reaching $73.82. The stock had a trading volume of 4,653,034 shares, compared to its average volume of 3,968,532. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a 1-year low of $48.95 and a 1-year high of $78.95. The stock has a market cap of $50.27 billion, a PE ratio of 14.79, a PEG ratio of 1.04 and a beta of 1.03. The business has a fifty day moving average price of $73.96 and a 200-day moving average price of $68.27.

American International Group (NYSE:AIG) last announced its earnings results on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analysts’ expectations of $11.61 billion. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities analysts forecast that American International Group will post 7.11 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio (DPR) is 28.86%.

Insider Activity at American International Group

In other American International Group news, CEO Peter Zaffino sold 333,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total value of $25,264,710.00. Following the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at $38,346,215.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, with a total value of $49,682.01. Following the acquisition, the director now directly owns 659 shares of the company’s stock, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new position in American International Group during the third quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in shares of American International Group in the first quarter valued at about $29,000. Headlands Technologies LLC acquired a new stake in American International Group during the third quarter worth about $32,000. Neo Ivy Capital Management purchased a new position in American International Group during the fourth quarter worth about $40,000. Finally, Scarborough Advisors LLC acquired a new position in American International Group in the 4th quarter valued at about $40,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

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.