American International Group (NYSE:AIG) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• AIG reported quarterly EPS of $2.00, surpassing analysts’ consensus estimate of $1.92 and rising from $1.81 in the same period last year. The company posted an 11.86% net margin and 10.93% return on equity.
• AIG shares fell 0.4% to $79.80 during Thursday trading. The insurer has a market capitalization of approximately $42.31 billion, while institutional investors own 90.6% of its stock.
• Analyst sentiment remains mixed, with seven Buy ratings and 12 Holds, producing an overall “Hold” rating and an average price target of $88.22. Recent targets range from $79 at Bank of America to $98 at UBS.

American International Group (NYSE:AIG - Get Free Report) posted its quarterly earnings data on Thursday. The insurance provider reported $2.00 EPS for the quarter, beating the consensus estimate of $1.92 by $0.08, Zacks reports. American International Group had a net margin of 11.86% and a return on equity of 10.93%. During the same period in the previous year, the company posted $1.81 EPS.

American International Group Stock Down 0.4%

Shares of NYSE:AIG traded down $0.32 during midday trading on Thursday, hitting $79.80. The stock had a trading volume of 3,093,140 shares, compared to its average volume of 3,246,744. The company has a market cap of $42.31 billion, a P/E ratio of 14.07, a PEG ratio of 0.74 and a beta of 0.53. American International Group has a 12 month low of $71.25 and a 12 month high of $87.29. The business's 50-day simple moving average is $77.19 and its 200-day simple moving average is $76.73. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mcguire Capital Advisors Inc. bought a new position in American International Group during the fourth quarter worth about $29,000. Jessup Wealth Management Inc bought a new stake in American International Group in the fourth quarter valued at approximately $40,000. JPL Wealth Management LLC acquired a new stake in shares of American International Group in the third quarter valued at approximately $39,000. Atlas Capital Advisors Inc. acquired a new stake in shares of American International Group in the fourth quarter valued at approximately $50,000. Finally, DV Equities LLC bought a new position in shares of American International Group during the 4th quarter worth approximately $65,000. Institutional investors own 90.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler reaffirmed a "neutral" rating and set a $80.00 price target (down from $88.00) on shares of American International Group in a research report on Wednesday, July 15th. UBS Group lifted their price objective on shares of American International Group from $94.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Bank of America cut their price objective on shares of American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Weiss Ratings upgraded shares of American International Group from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group raised their target price on shares of American International Group from $85.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $88.22.

American International Group Company Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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