Brokerages Anticipate American International Group, Inc. (AIG) to Post $1.19 Earnings Per Share
Wall Street brokerages expect American International Group, Inc. (NYSE:AIG) to report $1.19 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for American International Group’s earnings, with the highest EPS estimate coming in at $1.26 and the lowest estimate coming in at $1.08. American International Group posted earnings per share of $1.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 19%. The firm is expected to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that American International Group will report full-year earnings of $5.10 per share for the current financial year, with EPS estimates ranging from $4.35 to $5.45. For the next year, analysts expect that the firm will post earnings of $5.38 per share, with EPS estimates ranging from $4.65 to $5.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow American International Group.
American International Group (NYSE:AIG) last announced its quarterly 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 firm had revenue of $11.23 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same period in the previous year, the business posted $0.98 earnings per share.
Several equities analysts recently weighed in on AIG shares. BidaskClub downgraded shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Credit Suisse Group set a $72.00 price target on shares of American International Group and gave the stock a “buy” rating in a report on Saturday, April 15th. Morgan Stanley upgraded shares of American International Group from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $62.87 to $61.82 in a report on Tuesday, May 16th. Zacks Investment Research upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Wednesday, July 5th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of American International Group in a report on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $65.22.
Shares of American International Group (AIG) traded down 0.63% during mid-day trading on Tuesday, hitting $64.57. 3,143,571 shares of the stock were exchanged. The stock has a 50-day moving average price of $64.02 and a 200 day moving average price of $63.17. American International Group has a 52-week low of $57.35 and a 52-week high of $67.47. The firm has a market cap of $59.78 billion, a price-to-earnings ratio of 131.24 and a beta of 1.14.
American International Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the insurance provider to buy 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 announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.98%. American International Group’s dividend payout ratio (DPR) is -711.07%.
In other American International Group news, CEO Brian Duperreault bought 80,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the transaction, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.52% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Israel Discount Bank of New York acquired a new position in shares of American International Group during the first quarter worth about $145,000. Peddock Capital Advisors LLC raised its position in shares of American International Group by 100.0% in the second quarter. Peddock Capital Advisors LLC now owns 2,542 shares of the insurance provider’s stock worth $159,000 after buying an additional 1,271 shares during the period. Chicago Partners Investment Group LLC raised its position in shares of American International Group by 0.5% in the first quarter. Chicago Partners Investment Group LLC now owns 2,642 shares of the insurance provider’s stock worth $165,000 after buying an additional 14 shares during the period. FTB Advisors Inc. raised its position in shares of American International Group by 147.9% in the first quarter. FTB Advisors Inc. now owns 2,868 shares of the insurance provider’s stock worth $176,000 after buying an additional 1,711 shares during the period. Finally, Feltz Wealth PLAN Inc. acquired a new position in shares of American International Group during the first quarter worth about $184,000. Hedge funds and other institutional investors own 85.88% of the company’s stock.
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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