Langen Mcalenn Comments on American International Group, Inc.’s Q3 2017 Earnings (AIG)
American International Group, Inc. (NYSE:AIG) – Langen Mcalenn cut their Q3 2017 earnings per share estimates for American International Group in a report issued on Tuesday. Langen Mcalenn analyst L. Greenberg now anticipates that the insurance provider will earn ($0.73) per share for the quarter, down from their previous forecast of ($0.67). Langen Mcalenn also issued estimates for American International Group’s Q4 2017 earnings at $1.16 EPS, Q1 2018 earnings at $1.32 EPS, Q2 2018 earnings at $1.37 EPS, Q3 2018 earnings at $1.38 EPS and Q4 2018 earnings at $1.38 EPS.
AIG has been the topic of a number of other research reports. Morgan Stanley reiterated a “buy” rating on shares of American International Group in a research report on Tuesday. ValuEngine lowered American International Group from a “buy” rating to a “hold” rating in a research report on Wednesday. Bank of America Corporation reduced their price target on American International Group from $71.00 to $69.00 and set a “buy” rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $75.00 price target on shares of American International Group in a research report on Friday, October 6th. Finally, Wells Fargo & Company reiterated a “buy” rating and issued a $75.00 price target on shares of American International Group in a research report on Sunday, October 1st. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. American International Group currently has an average rating of “Hold” and an average price target of $68.35.
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American International Group (NYSE AIG) opened at 61.84 on Thursday. American International Group has a 1-year low of $57.35 and a 1-year high of $67.47. The firm’s market cap is $55.87 billion. The firm has a 50-day moving average price of $60.67 and a 200 day moving average price of $62.20.
American International Group (NYSE:AIG) last posted its quarterly earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $11.23 billion for the quarter, compared to analysts’ expectations of $12.61 billion. During the same quarter last year, the business earned $0.98 earnings per share.
Hedge funds have recently bought and sold shares of the stock. Pathstone Family Office LLC raised its stake in American International Group by 2,557.1% during the 2nd quarter. Pathstone Family Office LLC now owns 1,488 shares of the insurance provider’s stock worth $2,227,000 after buying an additional 1,432 shares during the period. Israel Discount Bank of New York acquired a new position in American International Group during the 1st quarter worth approximately $145,000. Peddock Capital Advisors LLC raised its stake in American International Group by 100.0% during the 2nd 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 stake in American International Group by 0.5% during the 1st 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. Finally, Bronfman E.L. Rothschild L.P. raised its stake in American International Group by 30.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 3,076 shares of the insurance provider’s stock worth $192,000 after buying an additional 716 shares during the period. 83.98% of the stock is currently owned by institutional investors and hedge funds.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Thursday, September 14th. American International Group’s dividend payout ratio (DPR) is currently -711.07%.
American International Group Company Profile
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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