American International Group (NYSE:AIG) Issues Quarterly Earnings Results

American International Group (NYSE:AIG - Get Free Report) announced its earnings results on Wednesday. The insurance provider reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.11, Briefing.com reports. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The firm had revenue of $12.58 billion for the quarter, compared to analyst estimates of $12.04 billion. During the same quarter in the previous year, the firm posted $1.63 EPS.

American International Group Stock Performance

Shares of AIG traded up $2.29 during mid-day trading on Thursday, hitting $78.10. 6,416,413 shares of the company traded hands, compared to its average volume of 3,969,321. The stock has a 50-day moving average price of $75.24 and a two-hundred day moving average price of $69.36. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31. The stock has a market cap of $53.18 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.08 and a beta of 1.02. American International Group has a 1 year low of $48.95 and a 1 year high of $79.70.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.84%. American International Group's payout ratio is 28.86%.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of American International Group from $76.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. Wells Fargo & Company lifted their price target on shares of American International Group from $74.00 to $80.00 and gave the company an "equal weight" rating in a research report on Thursday, April 11th. Evercore ISI lifted their price target on shares of American International Group from $74.00 to $80.00 and gave the company an "in-line" rating in a research report on Thursday, April 11th. Keefe, Bruyette & Woods lifted 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 report on Wednesday, April 10th. Finally, Piper Sandler lifted 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. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.38.

Insider Activity at American International Group

In other American International Group news, Director John C. Inglis bought 659 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company's stock, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American International Group news, Director John C. Inglis bought 659 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company's stock, valued at approximately $49,682.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were 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 owns 505,420 shares of the company's stock, valued at $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is currently 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.