Analysts forecast that American International Group Inc (NYSE:AIG) will post earnings per share of $1.15 for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for American International Group’s earnings, with estimates ranging from $1.07 to $1.29. American International Group reported earnings of $1.05 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The firm is expected to report its next earnings report on Thursday, August 1st.
According to Zacks, analysts expect that American International Group will report full year earnings of $4.96 per share for the current financial year, with EPS estimates ranging from $4.80 to $5.06. For the next financial year, analysts forecast that the business will post earnings of $5.09 per share, with EPS estimates ranging from $4.90 to $5.49. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for American International Group.
American International Group (NYSE:AIG) last issued its earnings results on Monday, May 6th. The insurance provider reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.52. American International Group had a negative net margin of 0.60% and a positive return on equity of 2.48%. The business had revenue of $12.90 billion during the quarter, compared to the consensus estimate of $12.25 billion. During the same period last year, the business posted $1.04 EPS.
A number of brokerages have recently commented on AIG. Zacks Investment Research raised shares of American International Group from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Thursday, May 9th. Morgan Stanley lifted their price target on shares of American International Group from $57.00 to $58.00 and gave the stock an “overweight” rating in a research note on Thursday, May 30th. Deutsche Bank lowered shares of American International Group from a “buy” rating to a “hold” rating and set a $53.35 target price for the company. in a research report on Wednesday, June 5th. They noted that the move was a valuation call. Barclays boosted their target price on shares of American International Group from $50.00 to $60.00 and gave the stock an “overweight” rating in a report on Wednesday, May 22nd. Finally, ValuEngine raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Monday, February 25th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $54.85.
AIG stock opened at $52.96 on Monday. American International Group has a 12-month low of $36.16 and a 12-month high of $56.36. The firm has a market capitalization of $46.17 billion, a P/E ratio of 45.26, a PEG ratio of 0.97 and a beta of 1.22. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Thursday, June 13th. American International Group’s dividend payout ratio is presently 109.40%.
American International Group declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 13th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the insurance provider to buy up to 5.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.
In other American International Group news, Director Therese M. Vaughan acquired 1,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $51.71 per share, with a total value of $51,710.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $51,710. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. WealthBridge Capital Management LLC grew its holdings in shares of American International Group by 148.8% in the 1st quarter. WealthBridge Capital Management LLC now owns 520 shares of the insurance provider’s stock valued at $26,000 after acquiring an additional 311 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of American International Group during the first quarter worth $29,000. CNB Bank acquired a new position in shares of American International Group during the fourth quarter valued at about $28,000. Lindbrook Capital LLC bought a new stake in shares of American International Group during the fourth quarter worth about $39,000. Finally, Rational Advisors LLC bought a new stake in American International Group in the 1st quarter worth about $45,000. Institutional investors and hedge funds own 90.12% of the company’s stock.
About American International Group
American International Group, Inc provides insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, crop, and marine insurance.
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