American International Group, Inc. (AIG) Declares Quarterly Dividend of $0.32
American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Investors of record on Friday, December 8th will be paid a dividend of 0.32 per share by the insurance provider on Friday, December 22nd. This represents a $1.28 annualized dividend and a yield of 1.98%.
American International Group has increased its dividend payment by an average of 85.7% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. American International Group has a dividend payout ratio of 38.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect American International Group to earn $5.28 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 24.2%.
American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The firm had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period last year, the company earned $0.98 EPS.
A number of analysts recently issued reports on AIG shares. BidaskClub downgraded American International Group from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Bank of America Corporation cut their price objective on American International Group from $71.00 to $69.00 and set a “buy” rating for the company in a research report on Tuesday, October 10th. Zacks Investment Research downgraded American International Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Morgan Stanley reissued a “buy” rating on shares of American International Group in a research report on Tuesday, October 10th. Finally, Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 target price for the company. in a report on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. American International Group presently has a consensus rating of “Hold” and an average target price of $68.18.
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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