American International Group, Inc. (NYSE:AIG) Increases Dividend to $0.40 Per Share

American International Group, Inc. (NYSE:AIG - Get Free Report) announced a quarterly dividend on Wednesday, May 1st, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.40 per share by the insurance provider on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from American International Group's previous quarterly dividend of $0.36.

American International Group has raised its dividend payment by an average of 3.0% annually over the last three years and has raised its dividend every year for the last 1 years.

American International Group Trading Up 0.5 %

Shares of NYSE:AIG traded up $0.38 during trading on Friday, reaching $78.48. The stock had a trading volume of 6,295,587 shares, compared to its average volume of 4,001,248. The stock has a market cap of $53.44 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 1.09 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. American International Group has a 52 week low of $48.95 and a 52 week high of $79.70. The firm's fifty day moving average is $75.24 and its 200 day moving average is $69.36.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.11. American International Group had a return on equity of 10.68% and a net margin of 9.98%. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. During the same period in the previous year, the business earned $1.63 EPS. As a group, equities analysts forecast that American International Group will post 6.95 EPS for the current fiscal year.

American International Group declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 1st that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 19.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on American International Group from $73.00 to $80.00 and gave the stock a "neutral" rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the company an "outperform" rating in a research note on Wednesday, April 10th. UBS Group lifted their price objective on shares of American International Group from $83.00 to $84.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Piper Sandler raised their price target on shares of American International Group from $87.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada boosted their price objective on American International Group from $76.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $80.44.

Insider Activity at American International Group

In other news, Director John C. Inglis bought 659 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now directly owns 505,420 shares in the company, valued at approximately $38,346,215.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John C. Inglis bought 659 shares of the business's stock in a transaction on Thursday, March 14th. The stock was bought at an average price of $75.39 per share, with a total value of $49,682.01. Following the purchase, the director now owns 659 shares in the company, valued at $49,682.01. The disclosure for this purchase can be found here. 0.61% of the stock is owned by company 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.

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