American International Group (NYSE:AIG - Get Free Report) posted its earnings results on Thursday. 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 for the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. During the same quarter in the prior year, the company earned $1.25 EPS.
American International Group Price Performance
American International Group stock opened at $83.55 on Friday. The firm has a fifty day moving average of $82.13 and a 200-day moving average of $77.36. American International Group has a 52-week low of $69.00 and a 52-week high of $88.07. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $49.75 billion, a P/E ratio of -40.17, a PEG ratio of 1.01 and a beta of 0.63.
American International Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.15%. This is a boost from American International Group's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, June 13th. American International Group's payout ratio is -76.92%.
Insider Activity at American International Group
In related news, Director John G. Rice bought 10,000 shares of the company's stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, for a total transaction of $770,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.61% of the company's stock.
Institutional Trading of American International Group
An institutional investor recently bought a new position in American International Group stock. Brighton Jones LLC acquired a new stake in American International Group, Inc. (NYSE:AIG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,980 shares of the insurance provider's stock, valued at approximately $1,091,000. Hedge funds and other institutional investors own 90.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts recently commented on AIG shares. HSBC raised American International Group from a "hold" rating to a "buy" rating and set a $93.00 price objective on the stock in a research note on Wednesday, March 5th. UBS Group cut their price objective on shares of American International Group from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Evercore ISI upped their price objective on shares of American International Group from $81.00 to $89.00 and gave the company an "in-line" rating in a research note on Tuesday, April 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $91.00 target price (up from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group increased their price target on American International Group from $79.00 to $87.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 1st. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, American International Group has an average rating of "Moderate Buy" and a consensus price target of $87.71.
Read Our Latest Report on American International Group
About American International Group
(
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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.
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