American International Group (NYSE:AIG) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

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

American International Group Trading Up 2.2 %

AIG traded up $1.63 during trading hours on Wednesday, reaching $77.02. The company’s stock had a trading volume of 7,130,155 shares, compared to its average volume of 4,105,745. American International Group has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The stock has a market cap of $49.60 billion, a PE ratio of -22.72, a P/E/G ratio of 5.21 and a beta of 1.05. The business’s 50-day moving average is $75.17 and its 200-day moving average is $75.65. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is presently -47.20%.

Insider Activity at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a research note on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research note on Wednesday. Keefe, Bruyette & Woods cut their price objective on American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Piper Sandler cut their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Citigroup cut their price objective on American International Group from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $84.31.

About American International Group

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.