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

American International Group (NYSE:AIG) posted its quarterly earnings data on Monday. The insurance provider reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share.

American International Group Stock Performance

NYSE:AIG traded up $1.63 during mid-day trading on Wednesday, reaching $77.02. The stock had a trading volume of 7,130,155 shares, compared to its average volume of 4,105,745. 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 firm has a market capitalization of $49.60 billion, a price-to-earnings ratio of -22.72, a PEG ratio of 5.21 and a beta of 1.05. American International Group has a twelve month low of $62.52 and a twelve month high of $80.83. The business has a 50 day simple moving average of $75.17 and a 200 day simple moving average of $75.65.

American International Group Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AIG shares. Bank of America upped their price objective on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Keefe, Bruyette & Woods dropped their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. JPMorgan Chase & Co. raised American International Group from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $93.00 to $89.00 in a report on Thursday, October 10th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $90.00 to $84.00 in a report on Tuesday, October 15th. Finally, UBS Group increased their target price on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.31.

Insider Buying and Selling at American International Group

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

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.