Langen Mcalenn Weighs in on American International Group, Inc.’s Q3 2017 Earnings (AIG)
American International Group, Inc. (NYSE:AIG) – Langen Mcalenn issued their Q3 2017 earnings estimates for shares of American International Group in a research report issued to clients and investors on Wednesday. Langen Mcalenn analyst L. Greenberg expects that the insurance provider will post earnings of $1.31 per share for the quarter. Langen Mcalenn also issued estimates for American International Group’s Q4 2017 earnings at $1.34 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.44 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.49 EPS and FY2018 earnings at $5.80 EPS.
American International Group (NYSE:AIG) last posted its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. American International Group had a negative net margin of 0.53% and a positive return on equity of 6.06%. The business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same period in the previous year, the company posted $0.98 earnings per share.
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AIG has been the subject of a number of other research reports. TheStreet raised American International Group from a “c” rating to a “b-” rating in a research report on Wednesday, May 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $75.00 target price on shares of American International Group in a research report on Thursday. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a research report on Thursday, April 20th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of American International Group in a research report on Monday, April 24th. Finally, Zacks Investment Research raised American International Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned 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 a consensus price target of $65.22.
American International Group (AIG) opened at 65.08 on Monday. American International Group has a 52-week low of $56.80 and a 52-week high of $67.47. The firm has a market capitalization of $60.25 billion, a PE ratio of 132.28 and a beta of 1.14. The stock’s 50 day moving average is $63.89 and its 200-day moving average is $63.11.
Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. raised its stake in shares of American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock worth $12,183,000 after buying an additional 152,647 shares during the period. Private Bank & Trust Co. raised its stake in shares of American International Group by 18.5% in the first quarter. Private Bank & Trust Co. now owns 12,836 shares of the insurance provider’s stock worth $802,000 after buying an additional 2,003 shares during the period. Parametrica Management Ltd acquired a new stake in shares of American International Group during the first quarter worth $370,000. Atria Investments LLC raised its stake in shares of American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock worth $1,730,000 after buying an additional 694 shares during the period. Finally, Eastern Bank raised its stake in shares of American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock worth $451,000 after buying an additional 210 shares during the period. Institutional investors own 85.88% of the company’s stock.
In related news, CEO Brian Duperreault acquired 80,000 shares of the company’s stock in a transaction on Thursday, May 18th. The stock was purchased at an average cost of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the purchase, the chief executive officer now directly owns 80,000 shares of the company’s stock, valued at approximately $4,918,400. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.
American International Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 3rd that allows the company to repurchase $2.50 billion in shares. This repurchase authorization allows the insurance provider to purchase up to 4.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a yield of 1.97%. American International Group’s dividend payout ratio is currently -711.07%.
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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