American International Group (NYSE:AIG) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

American International Group (NYSE:AIG) released its quarterly earnings data on Tuesday. The insurance provider reported $2.06 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.18, Zacks reports. American International Group had a return on equity of 11.05% and a net margin of 11.13%.

American International Group Trading Down 2.1%

Shares of American International Group stock traded down $1.75 during trading on Tuesday, hitting $80.65. The company’s stock had a trading volume of 6,225,850 shares, compared to its average volume of 4,308,971. The stock has a market cap of $42.17 billion, a price-to-earnings ratio of 14.74, a price-to-earnings-growth ratio of 0.84 and a beta of 0.52. American International Group has a 52 week low of $71.25 and a 52 week high of $87.29. The stock has a 50-day moving average price of $77.19 and a two-hundred day moving average price of $76.80. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $2.00 annualized dividend and a dividend yield of 2.5%. American International Group’s payout ratio is currently 36.56%.

Analyst Ratings Changes

A number of brokerages have issued reports on AIG. Piper Sandler upped their target price on American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Cantor Fitzgerald cut their price target on American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Argus restated a “buy” rating and set a $90.00 price target on shares of American International Group in a report on Wednesday, September 2nd. Mizuho reduced their price target on American International Group from $85.00 to $83.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. Finally, Barclays upped their price objective on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Eight research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, American International Group has an average rating of “Hold” and an average target price of $87.68.

Insider Transactions at American International Group

In related news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the completion of the transaction, the insider directly owned 592,833 shares of the company’s stock, valued at $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by corporate insiders.

American International Group Company Profile

American International Group, Inc (NYSE:AIG) is a global insurance organization that provides property and casualty insurance products and related services to businesses, institutions, and individuals. Its offerings include commercial insurance, personal insurance, specialty coverage, accident and health products, and travel-related protection.

AIG serves customers through operations in the United States and international markets. Its commercial insurance business supports companies across industries with coverage such as property, casualty, liability, marine, and other specialty risks, while its personal insurance operations provide protection for individuals and families.

The company was founded in Shanghai in 1919 by Cornelius Vander Starr and is headquartered in New York City.