American International Group (NYSE:AIG) Announces Quarterly Earnings Results

American International Group (NYSE:AIG) announced its quarterly earnings results on Monday. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13, Briefing.com reports. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the firm posted $1.61 earnings per share.

American International Group Trading Up 2.2 %

American International Group stock opened at $77.02 on Thursday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The stock has a 50-day simple moving average of $75.17 and a 200 day simple moving average of $75.65. The stock has a market capitalization of $49.60 billion, a P/E ratio of -22.72, a PEG ratio of 5.21 and a beta of 1.05. American International Group has a 52 week low of $62.52 and a 52 week high of $80.83.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.08%. American International Group’s dividend payout ratio (DPR) is currently -47.20%.

Insider Activity

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Piper Sandler cut their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research report on Wednesday. Barclays started coverage on American International Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. Finally, Bank of America raised their price target on shares of American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American International Group has an average rating of “Hold” and an average target price of $84.31.

American International Group Company Profile

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.