American International Group Inc (NYSE:AIG) was the target of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 18,111,254 shares, a drop of 26.1% from the December 15th total of 24,507,331 shares. Based on an average trading volume of 3,735,787 shares, the days-to-cover ratio is presently 4.8 days. Currently, 2.0% of the company’s stock are sold short.
Several hedge funds have recently modified their holdings of the company. Pzena Investment Management LLC raised its holdings in American International Group by 6.8% in the 4th quarter. Pzena Investment Management LLC now owns 6,950,107 shares of the insurance provider’s stock worth $414,087,000 after purchasing an additional 442,750 shares during the period. First Republic Investment Management Inc. raised its holdings in American International Group by 48.9% in the 4th quarter. First Republic Investment Management Inc. now owns 982,128 shares of the insurance provider’s stock worth $58,515,000 after purchasing an additional 322,451 shares during the period. Dragon Financial & Investment Group LLC acquired a new position in American International Group in the 4th quarter worth about $201,000. Gould Asset Management LLC CA acquired a new position in American International Group in the 4th quarter worth about $209,000. Finally, Timber Hill LLC acquired a new position in American International Group in the 4th quarter worth about $2,284,000. 85.81% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently issued reports on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $74.00 price target on shares of American International Group in a report on Wednesday, December 6th. Zacks Investment Research downgraded American International Group from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Wells Fargo & Co set a $75.00 price target on American International Group and gave the company a “buy” rating in a report on Tuesday, October 17th. Bank of America downgraded American International Group from a “buy” rating to a “neutral” rating and set a $69.00 target price on the stock. in a research note on Friday, November 3rd. Finally, Goldman Sachs Group initiated coverage on American International Group in a research note on Monday, December 4th. They set a “neutral” rating and a $61.00 target price on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. American International Group presently has an average rating of “Hold” and an average price target of $66.87.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.18). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.02%. During the same period last year, the firm posted ($2.96) earnings per share. analysts expect that American International Group will post 5.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be issued a $0.32 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 2.13%. American International Group’s dividend payout ratio (DPR) is presently -51.41%.
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About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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