American International Group, Inc. (AIG) Expected to Post Earnings of $1.20 Per Share
Equities analysts expect that American International Group, Inc. (NYSE:AIG) will post earnings per share (EPS) of $1.20 for the current quarter, according to Zacks. Zero analysts have made estimates for American International Group’s earnings, with estimates ranging from $1.13 to $1.25. American International Group posted earnings per share of $0.98 in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.4%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that American International Group will report full-year earnings of $4.99 per share for the current financial year, with EPS estimates ranging from $4.50 to $5.35. For the next year, analysts expect that the business will post earnings of $5.81 per share, with EPS estimates ranging from $4.80 to $6.40. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for American International Group.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, May 3rd. The insurance provider reported $1.36 EPS for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.25. The firm had revenue of $11.31 billion during the quarter, compared to the consensus estimate of $11 billion. American International Group had a net margin of 1.00% and a return on equity of 5.36%. During the same quarter last year, the firm earned $0.65 earnings per share.
AIG has been the subject of several recent analyst reports. Wells Fargo & Company restated a “buy” rating on shares of American International Group in a research report on Monday, February 27th. Credit Suisse Group set a $72.00 target price on shares of American International Group and gave the stock a “buy” rating in a research report on Thursday, March 2nd. BMO Capital Markets restated an “outperform” rating and issued a $70.00 target price on shares of American International Group in a research report on Saturday, March 11th. Deutsche Bank AG cut shares of American International Group from a “hold” rating to a “sell” rating and decreased their target price for the stock from $6.00 to $5.00 in a research report on Monday, March 13th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $71.00 target price on shares of American International Group in a research report on Monday, March 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $64.58.
Shares of American International Group (AIG) traded up 0.52% during midday trading on Friday, reaching $63.35. 2,070,662 shares of the company were exchanged. American International Group has a 52-week low of $48.41 and a 52-week high of $67.47. The company’s 50-day moving average price is $62.81 and its 200 day moving average price is $63.54. The stock has a market capitalization of $58.65 billion, a price-to-earnings ratio of 128.76 and a beta of 1.16.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 28th. Stockholders of record on Wednesday, June 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Monday, June 12th. American International Group’s dividend payout ratio is currently 412.92%.
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In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The stock was acquired at an average cost of $61.48 per share, with a total value of $4,918,400.00. Following the completion of the purchase, the chief executive officer now directly owns 80,000 shares in the company, valued at $4,918,400. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in American International Group during the fourth quarter valued at approximately $531,208,000. TIAA CREF Investment Management LLC raised its stake in American International Group by 1.5% in the first quarter. TIAA CREF Investment Management LLC now owns 7,753,856 shares of the insurance provider’s stock valued at $484,073,000 after buying an additional 116,955 shares in the last quarter. Pzena Investment Management LLC raised its stake in American International Group by 7.0% in the first quarter. Pzena Investment Management LLC now owns 6,389,150 shares of the insurance provider’s stock valued at $398,875,000 after buying an additional 416,152 shares in the last quarter. Legal & General Group Plc raised its stake in American International Group by 1.1% in the first quarter. Legal & General Group Plc now owns 5,371,867 shares of the insurance provider’s stock valued at $335,356,000 after buying an additional 57,104 shares in the last quarter. Finally, Paulson & CO. Inc. acquired a new stake in American International Group during the fourth quarter valued at approximately $314,099,000. 86.20% of the stock is owned by institutional investors and hedge funds.
About American International Group
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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