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

American International Group (NYSE:AIG - Get Free Report) issued its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.13, Zacks reports. The firm had revenue of $6.77 billion during the quarter, compared to analysts' expectations of $6.89 billion. American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. During the same quarter in the previous year, the company earned $1.25 earnings per share.

American International Group Price Performance

AIG traded up $0.75 on Thursday, hitting $82.44. 1,717,819 shares of the stock were exchanged, compared to its average volume of 4,431,219. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group has a 12 month low of $69.00 and a 12 month high of $88.07. The firm has a market capitalization of $49.09 billion, a price-to-earnings ratio of -39.63, a PEG ratio of 1.01 and a beta of 0.69. The business has a 50-day moving average of $82.26 and a two-hundred day moving average of $77.45.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.45 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a boost from American International Group's previous quarterly dividend of $0.40. American International Group's dividend payout ratio (DPR) is presently -67.67%.

Insider Activity

In other news, Director John G. Rice purchased 10,000 shares of the company's stock in a transaction dated Thursday, February 13th. The stock was bought at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company's stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the sale, the executive vice president now owns 21,400 shares in the company, valued at approximately $1,781,764. This trade represents a 68.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company's stock.

Institutional Trading of American International Group

A hedge fund recently bought a new stake in American International Group stock. Brighton Jones LLC bought a new stake in American International Group, Inc. (NYSE:AIG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,980 shares of the insurance provider's stock, valued at approximately $1,091,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on AIG. BMO Capital Markets lifted their target price on American International Group from $75.00 to $83.00 and gave the stock a "market perform" rating in a report on Thursday, March 13th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Jefferies Financial Group raised their price objective on shares of American International Group from $90.00 to $95.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Wells Fargo & Company increased their target price on American International Group from $81.00 to $82.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Barclays upped their price objective on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, American International Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.88.

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.