American International Group Inc (NYSE:AIG) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 16,057,800 shares, a decline of 10.2% from the May 30th total of 17,884,000 shares. Based on an average trading volume of 4,930,000 shares, the short-interest ratio is currently 3.3 days. Currently, 1.9% of the shares of the stock are sold short.
A number of brokerages have recently issued reports on AIG. Morgan Stanley lifted their price target on Intact Financial from C$125.00 to C$128.00 in a research note on Thursday, May 30th. Deutsche Bank lowered American International Group from a “buy” rating to a “hold” rating and set a $53.35 price target on the stock. in a research note on Wednesday, June 5th. They noted that the move was a valuation call. Wells Fargo & Co set a $70.00 price target on MSC Industrial Direct and gave the stock a “market perform” rating in a research note on Thursday. Barclays set a $34.00 price target on DCP Midstream and gave the stock a “hold” rating in a research note on Wednesday, May 22nd. Finally, Bank of America reaffirmed a “buy” rating and issued a $85.00 price target (up from $78.00) on shares of Everbridge in a research note on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. American International Group currently has a consensus rating of “Buy” and a consensus price target of $55.86.
NYSE AIG opened at $56.27 on Friday. The stock’s fifty day moving average is $53.35. The firm has a market capitalization of $48.94 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 1.03 and a beta of 1.19. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.27 and a quick ratio of 0.27. American International Group has a fifty-two week low of $36.16 and a fifty-two week high of $56.36.
American International Group (NYSE:AIG) last released its quarterly earnings data on Monday, May 6th. The insurance provider reported $1.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.52. The company had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.25 billion. American International Group had a positive return on equity of 2.48% and a negative net margin of 0.60%. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities research analysts predict that American International Group will post 4.96 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, June 13th. American International Group’s dividend payout ratio (DPR) is currently 109.40%.
In other news, Director Therese M. Vaughan purchased 1,000 shares of the stock in a transaction dated Thursday, May 23rd. The shares were purchased at an average cost of $51.71 per share, with a total value of $51,710.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $51,710. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in American International Group in the first quarter valued at $29,000. Rational Advisors LLC purchased a new stake in American International Group in the first quarter valued at $45,000. Exane Derivatives purchased a new stake in American International Group in the second quarter valued at $58,000. Cornerstone Advisors Inc. raised its position in American International Group by 16.5% in the first quarter. Cornerstone Advisors Inc. now owns 2,083 shares of the insurance provider’s stock valued at $90,000 after purchasing an additional 295 shares during the period. Finally, Trust Co. of Vermont raised its position in American International Group by 44.0% in the first quarter. Trust Co. of Vermont now owns 2,129 shares of the insurance provider’s stock valued at $92,000 after purchasing an additional 651 shares during the period. 90.05% of the stock is currently 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.
See Also: Cost of Goods Sold (COGS)
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