Short traders are more bearish on the company if you take a look at the motion in short interest. The firm recorded a rise in short interest of 10.24% between September 29, 2017 and October 13, 2017. Short shares grew from 17,218,109 to 18,981,239 over that timeframe. Days to cover increased from 3.0 to 5.0 and the short interest percentage is 0.02% as of October 13.
A few notable investment firms have updated their holdings. Goelzer Investment Management, Inc. grew its investment by buying 28,018 shares an increase of 74.5% from 06/30/2017 to 09/30/2017. Goelzer Investment Management, Inc. claims 65,638 shares valued at $4,030,000. The total value of its holdings increased 71.3%. Andra Ap-fonden downsized its ownership by shedding 200 shares a decrease of 0.3% as of 09/30/2017. Andra Ap-fonden owns 71,500 shares worth $4,389,000. The value of the position overall is down by 2.1%.
As of the end of the quarter Finemark National Bank & Trust had disposed of 4,339 shares trimming its stake by 4.4%. The value of the company’s investment in American International Group, I decreased from $6,148,000 to $5,771,000 decreasing 6.1% quarter over quarter. Baskin Financial Services Inc. cut its position by selling 3,010 shares a decrease of 1.9% in the quarter. Baskin Financial Services Inc. controls 153,588 shares with a value of $9,429,000. The value of the position overall is down by 3.7%.
On August 9, 2017 the stock rating was changed to “Neutral” in a report from Atlantic Equities down from the previous “Overweight” rating. August 24 investment analysts at Deutsche Bank held the company rating at “Sell” and moved up the price target to $58.00 from $56.00.
On October 2 UBS kept the stock rating at “Neutral” but lowered the price target from $64.00 to $63.00. October 10 investment analysts at Bank of America maintained a company rating of “Buy” but raised the price expectation to $69.00 from $63.00.
On October 16 Barclays maintained a stock rating of “Overweight” but moved up the price target from $68.00 to $71.00.
The company is so far trading down since yesterday’s close of $64.61. The company also recently declared a dividend for shareholders paid on Friday the 29th of September 2017. The dividend payment was $0.320 per share for the quarter or $1.28 annualized. This dividend represents a yield of $1.98 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Thursday the 14th of September 2017.
The stock is trading at $64.61 a bit higher than $62.28, the 50 day moving average and which is marginally over the 200 day moving average of $62.49. The 50 day moving average was up $2.33 and the 200 day average went up by +3.39%.
As of the latest earnings report the EPS was $-0.28 and is estimated to be $3.39 for the current year with 903,405,000 shares presently outstanding. Next quarter’s EPS is expected be $1.22 and the next full year EPS is anticipated to be $5.29.
American International Group, Inc. (AIG), launched on June 9, 1967, 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. The Business’s offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. Its Core businesses include Commercial Insurance and Consumer Insurance, as well as Other Operations. Commercial Insurance includes two modules: Liability and Financial Lines and Property and Special Risks. Consumer Insurance consists of four modules: Individual Retirement, Group Retirement, Life Insurance and Personal Insurance. It also reviews and assesses its core business through the locations of its insurance operations across three geographic modules: the United States, Europe and Japan..