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

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

Insider Buying and Selling

In related news, CEO Peter Zaffino sold 333,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly 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 is available through this link. In other news, CEO Peter Zaffino sold 333,000 shares of American International Group 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 in the company, valued at $38,346,215.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On American International Group

Large investors have recently modified their holdings of the stock. Hodges Capital Management Inc. bought a new position in American International Group in the 1st quarter worth approximately $211,000. Financial Management Professionals Inc. raised its position in shares of American International Group by 16.3% during the first quarter. Financial Management Professionals Inc. now owns 5,057 shares of the insurance provider’s stock worth $395,000 after acquiring an additional 710 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of American International Group during the first quarter valued at $219,000. Fifth Third Wealth Advisors LLC boosted its holdings in American International Group by 9.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 16,001 shares of the insurance provider’s stock valued at $1,251,000 after acquiring an additional 1,331 shares during the last quarter. Finally, Transform Wealth LLC acquired a new stake in American International Group in the first quarter worth about $9,288,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on AIG shares. BMO Capital Markets decreased their price target on shares of American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. JPMorgan Chase & Co. boosted their price target on American International Group from $73.00 to $80.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $87.00 price objective on shares of American International Group in a research report on Monday, April 1st. Royal Bank of Canada lifted their price objective on American International Group from $76.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods upped their target price on American International Group from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Wednesday, April 10th. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus price target of $79.06.

American International Group Price Performance

Shares of NYSE AIG traded up $0.77 during mid-day trading on Tuesday, hitting $73.82. 4,653,034 shares of the stock were exchanged, compared to its average volume of 3,968,532. American International Group has a twelve month low of $48.95 and a twelve month high of $78.95. The stock’s fifty day simple moving average is $73.96 and its two-hundred day simple moving average is $68.27. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The company has a market cap of $50.27 billion, a P/E ratio of 14.79, a PEG ratio of 1.04 and a beta of 1.03.

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

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. 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 is currently 28.86%.

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.