Short Interest in American International Group, Inc. (NYSE:AIG) Expands By 12.3%

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

Insider Buying and Selling

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

Institutional Trading of American International Group

A number of institutional investors have recently modified their holdings of AIG. Whittier Trust Co. of Nevada Inc. boosted its position in shares of American International Group by 5.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 2,691 shares of the insurance provider’s stock worth $210,000 after purchasing an additional 136 shares in the last quarter. Sage Mountain Advisors LLC increased its holdings in American International Group by 2.3% in the first quarter. Sage Mountain Advisors LLC now owns 6,700 shares of the insurance provider’s stock valued at $524,000 after buying an additional 148 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of American International Group by 0.6% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,011 shares of the insurance provider’s stock valued at $1,694,000 after acquiring an additional 154 shares during the period. Cary Street Partners Investment Advisory LLC boosted its stake in shares of American International Group by 0.9% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 18,553 shares of the insurance provider’s stock worth $1,257,000 after acquiring an additional 157 shares in the last quarter. Finally, New Republic Capital LLC grew its holdings in shares of American International Group by 5.2% in the 1st quarter. New Republic Capital LLC now owns 3,290 shares of the insurance provider’s stock worth $257,000 after acquiring an additional 164 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler boosted their target price on shares of American International Group from $87.00 to $89.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Evercore ISI decreased their price target on American International Group from $81.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, June 27th. HSBC cut American International Group from a “buy” rating to a “hold” rating and set a $86.00 price objective for the company. in a research report on Wednesday, May 15th. Finally, Morgan Stanley raised their target price on American International Group from $72.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.38.

American International Group Stock Performance

Shares of NYSE AIG traded down $0.18 during midday trading on Wednesday, reaching $75.15. 2,325,950 shares of the company were exchanged, compared to its average volume of 4,134,491. The stock has a fifty day simple moving average of $76.74 and a 200 day simple moving average of $73.42. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.05. The stock has a market cap of $49.87 billion, a P/E ratio of 11.29, a PEG ratio of 2.04 and a beta of 1.08. American International Group has a 1 year low of $56.88 and a 1 year high of $80.83.

American International Group (NYSE:AIG) last released its earnings results on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, research analysts forecast that American International Group will post 7.02 earnings per share for the current fiscal year.

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

American International Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36. American International Group’s dividend payout ratio (DPR) is 23.88%.

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.