American International Group (NYSE:AIG) Issues Quarterly Earnings Results, Beats Estimates By $0.18 EPS
by Doug Wharley · The Cerbat GemAmerican International Group (NYSE:AIG – Get Free Report) issued its quarterly earnings results on Tuesday. The insurance provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.18, Zacks reports. American International Group had a return on equity of 11.05% and a net margin of 11.13%.
American International Group Stock Performance
AIG traded down $1.75 during midday trading on Tuesday, reaching $80.65. The company’s stock had a trading volume of 6,225,890 shares, compared to its average volume of 4,309,002. American International Group has a twelve month low of $71.25 and a twelve month high of $87.29. The company has a fifty day simple moving average of $77.19 and a 200 day simple moving average of $76.80. The stock has a market cap of $42.17 billion, a P/E ratio of 14.74, a PEG ratio of 0.84 and a beta of 0.52. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.22.
American International Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, September 16th. American International Group’s dividend payout ratio is 36.56%.
Insider Buying and Selling
In other news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
AIG has been the topic of several analyst reports. Morgan Stanley dropped their price target on shares of American International Group from $81.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods decreased their price target on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research report on Monday, October 12th. Mizuho decreased their price objective on shares of American International Group from $85.00 to $83.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Royal Bank Of Canada boosted their price target on shares of American International Group from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. boosted their price target on American International Group from $86.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Eight equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $87.68.
View Our Latest Stock Report on AIG
American International Group Company Profile
American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.
AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.
The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.
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