American International Group Inc (NYSE:AIG) – Equities research analysts at Langen Mcalenn cut their Q1 2018 EPS estimates for American International Group in a note issued to investors on Tuesday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will post earnings per share of $1.42 for the quarter, down from their previous estimate of $1.44. Langen Mcalenn also issued estimates for American International Group’s Q2 2018 earnings at $1.45 EPS, Q3 2018 earnings at $1.51 EPS, Q4 2018 earnings at $1.53 EPS, FY2018 earnings at $5.90 EPS, Q1 2019 earnings at $1.62 EPS and Q3 2019 earnings at $1.65 EPS.
AIG has been the topic of several other reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $74.00 price objective on shares of American International Group in a research note on Wednesday, December 6th. Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Bank of America cut American International Group from a “buy” rating to a “neutral” rating and set a $69.00 price objective on the stock. in a research note on Friday, November 3rd. Goldman Sachs Group began coverage on American International Group in a research note on Monday, December 4th. They set a “neutral” rating and a $61.00 price objective on the stock. Finally, Deutsche Bank raised American International Group from a “sell” rating to a “hold” rating and boosted their price objective for the stock from $58.00 to $59.00 in a research note on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.87.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.18). American International Group had a positive return on equity of 3.02% and a negative net margin of 5.07%. During the same period in the prior year, the firm earned ($2.96) EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AIG. Connable Office Inc. purchased a new stake in shares of American International Group in the third quarter valued at approximately $1,563,000. State of Alaska Department of Revenue boosted its holdings in shares of American International Group by 334.7% in the fourth quarter. State of Alaska Department of Revenue now owns 97,947 shares of the insurance provider’s stock valued at $5,834,000 after purchasing an additional 75,415 shares during the period. Synovus Financial Corp boosted its holdings in shares of American International Group by 1.9% in the third quarter. Synovus Financial Corp now owns 93,385 shares of the insurance provider’s stock valued at $5,715,000 after purchasing an additional 1,727 shares during the period. Patriot Wealth Management Inc. boosted its holdings in shares of American International Group by 1.4% in the fourth quarter. Patriot Wealth Management Inc. now owns 142,495 shares of the insurance provider’s stock valued at $8,490,000 after purchasing an additional 1,989 shares during the period. Finally, Torray LLC boosted its holdings in shares of American International Group by 26.0% in the third quarter. Torray LLC now owns 190,836 shares of the insurance provider’s stock valued at $11,715,000 after purchasing an additional 39,368 shares during the period. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.14%. American International Group’s dividend payout ratio is -18.63%.
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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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