American International Group (AIG) Releases Quarterly Earnings, Beats Estimates By $0.11 EPS
American International Group (NYSE:AIG) posted its quarterly earnings results on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.11, American Banking and Market News reports. The company had revenue of $8.43 billion for the quarter, compared to the consensus estimate of $8.63 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was down 3.7% on a year-over-year basis.
A number of analysts have recently weighed in on AIG shares. Analysts at Compass Point downgraded shares of American International Group from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. They now have a $50.00 price target on the stock. On the ratings front, analysts at Zacks upgraded shares of American International Group from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, October 17th. They now have a $62.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of American International Group in a research note to investors on Friday, September 27th. They now have a $52.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $50.86.
American International Group (NYSE:AIG) opened at 51.65 on Friday. American International Group has a 1-year low of $30.64 and a 1-year high of $49.93. The stock has a 50-day moving average of $50.21 and a 200-day moving average of $46.51. The company has a market cap of $76.253 billion and a P/E ratio of 27.93. American International Group also saw some unusual options trading activity on Tuesday. Stock traders purchased 20,296 put options on the stock. This represents an increase of approximately 131% compared to the typical volume of 8,770 put options.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.77%.
American International Group, Inc (NYSE:AIG) is a global insurance company.