American International Group Inc (NYSE:AIG) – Equities researchers at Langen Mcalenn upped their FY2018 earnings estimates for shares of American International Group in a research report issued to clients and investors on Tuesday. Langen Mcalenn analyst L. Greenberg now forecasts that the insurance provider will post earnings per share of $6.05 for the year, up from their prior forecast of $5.20.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Thursday, November 2nd. The insurance provider reported ($1.22) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($2.45). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.43%. The company had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.05 billion. During the same quarter in the previous year, the business posted $1.23 earnings per share.
A number of other research firms also recently weighed in on AIG. Bank of America downgraded shares of American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price target on the stock. in a research note on Friday, November 3rd. Zacks Investment Research lowered shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, October 30th. Wells Fargo & Co set a $75.00 price objective on shares of American International Group and gave the company a “buy” rating in a report on Tuesday, October 17th. Barclays dropped their price objective on shares of American International Group from $74.00 to $71.00 and set an “overweight” rating for the company in a report on Monday, October 16th. Finally, B. Riley reiterated a “neutral” rating on shares of American International Group in a report on Monday, November 6th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $67.41.
American International Group (AIG) traded up $0.36 on Thursday, hitting $61.42. 4,935,600 shares of the stock were exchanged, compared to its average volume of 5,688,709. American International Group has a one year low of $57.85 and a one year high of $67.45. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43. The firm has a market cap of $55,290.00, a P/E ratio of -24.67, a P/E/G ratio of 1.00 and a beta of 1.18.
The company also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Shareholders of record on Friday, December 8th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, December 7th. This represents a $1.28 annualized dividend and a yield of 2.08%. American International Group’s payout ratio is -51.41%.
A number of institutional investors have recently added to or reduced their stakes in AIG. Bank of Nova Scotia Trust Co. bought a new position in American International Group during the 3rd quarter worth approximately $109,000. Chicago Partners Investment Group LLC bought a new position in American International Group during the 3rd quarter worth approximately $163,000. Rational Advisors LLC raised its holdings in American International Group by 100.0% during the 3rd quarter. Rational Advisors LLC now owns 3,000 shares of the insurance provider’s stock worth $184,000 after purchasing an additional 1,500 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in American International Group during the 3rd quarter worth approximately $200,000. Finally, Investment Centers of America Inc. bought a new position in American International Group during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 85.89% of the company’s stock.
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American International Group Company Profile
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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