American International Group, Inc. (NYSE:AIG) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 14,710,000 shares, a decrease of 28.0% from the August 15th total of 20,430,000 shares. Based on an average trading volume of 4,100,000 shares, the short-interest ratio is currently 3.6 days. Approximately 1.7% of the shares of the company are short sold.
NYSE AIG traded up $0.07 during trading on Tuesday, hitting $53.30. 377,287 shares of the company’s stock traded hands, compared to its average volume of 4,370,331. The stock has a fifty day moving average of $51.68 and a two-hundred day moving average of $49.77. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.32 and a quick ratio of 0.32. American International Group has a 12-month low of $25.57 and a 12-month high of $55.78. The firm has a market cap of $45.58 billion, a P/E ratio of 11.16, a PEG ratio of 1.11 and a beta of 1.37.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 4th. The insurance provider reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.32. American International Group had a net margin of 9.35% and a return on equity of 5.83%. The business had revenue of $11.99 billion during the quarter, compared to analyst estimates of $11.56 billion. As a group, analysts expect that American International Group will post 4.92 earnings per share for the current fiscal year.
American International Group announced that its board has initiated a stock repurchase plan on Thursday, August 5th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the insurance provider to repurchase up to 14.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
Several research firms have recently weighed in on AIG. TheStreet raised shares of American International Group from a “c” rating to a “b-” rating in a report on Wednesday, September 8th. Wolfe Research began coverage on shares of American International Group in a report on Monday, August 16th. They issued an “outperform” rating and a $63.00 price target on the stock. Morgan Stanley upped their price target on shares of American International Group from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Monday, August 16th. upped their price target on shares of American International Group from $48.00 to $51.00 and gave the stock a “neutral” rating in a report on Monday, June 21st. Finally, Wells Fargo & Company upped their price target on shares of American International Group from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, American International Group currently has an average rating of “Hold” and an average price target of $51.15.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of American International Group by 0.5% during the second quarter. BlackRock Inc. now owns 78,159,931 shares of the insurance provider’s stock worth $3,720,413,000 after purchasing an additional 387,764 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in American International Group by 5.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 67,087,453 shares of the insurance provider’s stock worth $3,193,363,000 after buying an additional 3,352,364 shares during the period. State Street Corp lifted its holdings in American International Group by 1.0% in the second quarter. State Street Corp now owns 40,343,501 shares of the insurance provider’s stock worth $1,920,351,000 after buying an additional 386,999 shares during the period. Capital International Investors lifted its holdings in American International Group by 15.4% in the first quarter. Capital International Investors now owns 23,354,888 shares of the insurance provider’s stock worth $1,079,231,000 after buying an additional 3,108,664 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its holdings in American International Group by 4.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 20,647,223 shares of the insurance provider’s stock worth $982,808,000 after buying an additional 848,957 shares during the period. Institutional investors own 89.09% of the company’s stock.
American International Group Company Profile
American International Group, Inc engages in the provision of a range of property casualty insurance, life insurance, retirement products, and other financial services to commercial and individual customers. It operates through the following segments: General Insurance, Life and Retirement and Other Operations.
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