Langen Mcalenn Analysts Lower Earnings Estimates for American International Group, Inc. (NYSE:AIG)
American International Group, Inc. (NYSE:AIG) – Stock analysts at Langen Mcalenn reduced their Q3 2017 earnings per share estimates for shares of American International Group in a report issued on Monday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will post earnings of $1.24 per share for the quarter, down from their previous estimate of $1.31. Langen Mcalenn also issued estimates for American International Group’s Q4 2017 earnings at $1.17 EPS, FY2017 earnings at $5.30 EPS, Q1 2018 earnings at $1.35 EPS, Q2 2018 earnings at $1.40 EPS, Q3 2018 earnings at $1.42 EPS, Q4 2018 earnings at $1.43 EPS and FY2018 earnings at $5.60 EPS.
Other analysts have also issued reports about the company. TheStreet raised American International Group from a “c” rating to a “b-” rating in a report on Wednesday, May 3rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of American International Group in a report on Wednesday, July 5th. Zacks Investment Research raised American International Group from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $71.00 target price on shares of American International Group in a report on Monday, April 24th. Finally, Credit Suisse Group set a $72.00 target price on American International Group and gave the stock a “buy” rating in a report on Saturday, April 15th. One investment 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 an average price target of $65.22.
American International Group (NYSE AIG) opened at 64.98 on Tuesday. The stock has a market capitalization of $60.16 billion, a PE ratio of 132.07 and a beta of 1.14. American International Group has a 52-week low of $56.80 and a 52-week high of $67.47. The stock’s 50 day moving average price is $63.89 and its 200-day moving average price is $63.11.
American International Group (NYSE:AIG) last posted its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.33. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. The firm 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 firm earned $0.98 EPS.
Several institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in American International Group by 450.4% in the fourth quarter. Macquarie Group Ltd. now owns 186,542 shares of the insurance provider’s stock valued at $12,183,000 after buying an additional 152,647 shares during the period. Private Bank & Trust Co. increased its position in 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 valued at $802,000 after buying an additional 2,003 shares during the period. Parametrica Management Ltd purchased a new position in American International Group during the first quarter valued at $370,000. Atria Investments LLC increased its position in American International Group by 2.6% in the first quarter. Atria Investments LLC now owns 27,710 shares of the insurance provider’s stock valued at $1,730,000 after buying an additional 694 shares during the period. Finally, Eastern Bank increased its position in American International Group by 3.0% in the first quarter. Eastern Bank now owns 7,231 shares of the insurance provider’s stock valued at $451,000 after buying an additional 210 shares during the period. Institutional investors and hedge funds own 85.88% of the company’s stock.
In other news, CEO Brian Duperreault bought 80,000 shares of the firm’s stock in a transaction dated Thursday, May 18th. The shares were acquired at an average price of $61.48 per share, for a total transaction of $4,918,400.00. Following the completion of the transaction, the chief executive officer now directly owns 80,000 shares in the company, valued at approximately $4,918,400. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.52% of the company’s stock.
American International Group declared that its Board of Directors has approved a share buyback program on Wednesday, May 3rd that authorizes the company to buyback $2.50 billion in outstanding shares. This buyback authorization authorizes the insurance provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
The company 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 $0.32 dividend. The ex-dividend date is Thursday, September 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.97%. American International Group’s dividend payout ratio (DPR) is presently -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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