American International Group, Inc. (AIG) Set to Announce Earnings on Wednesday
American International Group, Inc. (NYSE:AIG) is scheduled to be releasing its earnings data after the market closes on Wednesday, August 2nd. Analysts expect American International Group to post earnings of $1.20 per share for the quarter.
American International Group (NYSE:AIG) last issued its earnings results on Wednesday, May 3rd. The insurance provider reported $1.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.25. The firm had revenue of $11.31 billion during the quarter, compared to analyst estimates of $11 billion. American International Group had a net margin of 1.00% and a return on equity of 5.36%. During the same period in the previous year, the firm earned $0.65 earnings per share. On average, analysts expect American International Group to post $5.02 EPS for the current fiscal year and $5.68 EPS for the next fiscal year.
Shares of American International Group, Inc. (NYSE:AIG) opened at 65.29 on Wednesday. The stock’s 50 day moving average is $63.60 and its 200-day moving average is $63.17. American International Group, Inc. has a 52 week low of $53.93 and a 52 week high of $67.47. The stock has a market capitalization of $60.44 billion, a price-to-earnings ratio of 132.70 and a beta of 1.13.
American International Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 3rd that permits the company to buyback $2.50 billion in shares. This buyback authorization permits the insurance provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Monday, June 12th. American International Group’s payout ratio is 412.92%.
In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $61.48 per share, with a total value of $4,918,400.00. Following the transaction, the chief executive officer now owns 80,000 shares of the company’s stock, valued at $4,918,400. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.52% of the stock is currently owned by company insiders.
A number of equities analysts recently commented on AIG shares. Vetr upgraded American International Group from a “buy” rating to a “strong-buy” rating and set a $72.50 target price for the company in a report on Tuesday, March 28th. J P Morgan Chase & Co lowered their target price on American International Group from $69.00 to $65.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. Wells Fargo & Company restated a “buy” rating on shares of American International Group in a report on Wednesday, April 12th. Credit Suisse Group set a $72.00 target price on American International Group and gave the company a “buy” rating in a report on Saturday, April 15th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $71.00 target price on shares of American International Group in a report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. American International Group presently has a consensus rating of “Buy” and an average target price of $65.15.
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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