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

American International Group (NYSE:AIG) announced its earnings results on Tuesday. The insurance provider reported $2.20 EPS for the quarter, topping the consensus estimate of $1.57 by $0.63, Zacks reports. The firm had revenue of $6.84 billion for the quarter, compared to the consensus estimate of $6.82 billion. American International Group had a net margin of 11.51% and a return on equity of 7.88%. During the same period last year, the company posted $1.23 EPS.

American International Group Stock Up 2.3%

AIG stock opened at $80.74 on Wednesday. The company has a market cap of $44.73 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68. The business has a 50-day simple moving average of $79.45 and a 200 day simple moving average of $81.28. American International Group has a 52 week low of $69.24 and a 52 week high of $88.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.22.

American International Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Tuesday, December 16th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, December 16th. American International Group’s payout ratio is 34.09%.

Analyst Ratings Changes

Several analysts have commented on the stock. Wolfe Research assumed coverage on shares of American International Group in a report on Tuesday, September 16th. They set a “peer perform” rating on the stock. UBS Group raised their target price on shares of American International Group from $90.00 to $94.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of American International Group from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. William Blair raised shares of American International Group to a “strong-buy” rating in a research note on Friday, August 1st. Finally, Citigroup assumed coverage on shares of American International Group in a research note on Wednesday, August 13th. They issued a “neutral” rating and a $85.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. raised its stake in American International Group by 4.4% in the second quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after purchasing an additional 143,361 shares in the last quarter. Viking Global Investors LP acquired a new position in American International Group in the second quarter valued at about $155,413,000. CANADA LIFE ASSURANCE Co raised its stake in American International Group by 4.3% in the second quarter. CANADA LIFE ASSURANCE Co now owns 900,303 shares of the insurance provider’s stock valued at $77,124,000 after purchasing an additional 36,872 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in American International Group by 26.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 770,522 shares of the insurance provider’s stock valued at $65,949,000 after buying an additional 161,582 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its holdings in American International Group by 462.9% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 627,838 shares of the insurance provider’s stock valued at $53,737,000 after buying an additional 516,300 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Company Profile

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.