American International Group, Inc. (NYSE:AIG) Short Interest Update

American International Group, Inc. (NYSE:AIG) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 9,370,000 shares, a drop of 8.4% from the September 30th total of 10,230,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 4,030,000 shares, the days-to-cover ratio is presently 2.3 days.

American International Group Stock Performance

AIG stock opened at $75.88 on Friday. The company has a market capitalization of $48.86 billion, a P/E ratio of -58.82, a PEG ratio of 3.88 and a beta of 1.06. The company has a 50-day simple moving average of $75.08 and a 200 day simple moving average of $75.56. American International Group has a fifty-two week low of $60.82 and a fifty-two week high of $80.83. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). The company had revenue of $1.00 million during the quarter, compared to analyst estimates of $11.64 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The business’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 EPS. Sell-side analysts predict that American International Group will post 5.09 earnings per share for the current fiscal year.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On American International Group

Several institutional investors have recently bought and sold shares of AIG. Summit Global Investments lifted its holdings in American International Group by 21.5% in the 3rd quarter. Summit Global Investments now owns 47,844 shares of the insurance provider’s stock valued at $3,504,000 after acquiring an additional 8,455 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in American International Group by 19.5% in the 3rd quarter. Portside Wealth Group LLC now owns 14,643 shares of the insurance provider’s stock valued at $1,072,000 after acquiring an additional 2,393 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in American International Group by 41.4% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 6,285 shares of the insurance provider’s stock valued at $460,000 after acquiring an additional 1,841 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in American International Group by 1.3% in the 3rd quarter. Principal Financial Group Inc. now owns 734,460 shares of the insurance provider’s stock valued at $53,785,000 after acquiring an additional 9,118 shares during the last quarter. Finally, Graypoint LLC lifted its holdings in American International Group by 2.0% in the 3rd quarter. Graypoint LLC now owns 8,672 shares of the insurance provider’s stock valued at $635,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of American International Group from $84.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, October 15th. Evercore ISI decreased their price objective on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group lifted their price objective on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods decreased their price objective on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Bank of America lifted their price objective on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, American International Group currently has an average rating of “Hold” and an average target price of $84.38.

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.