American International Group, Inc. (AIG) Posts Quarterly Earnings Results, Misses Estimates By $2.45 EPS
American International Group, Inc. (NYSE:AIG) released its quarterly earnings results on Thursday. The insurance provider reported ($1.22) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($2.45), Bloomberg Earnings reports. The company had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.05 billion. American International Group had a negative net margin of 5.07% and a positive return on equity of 3.41%. During the same quarter last year, the firm earned $1.23 EPS.
American International Group (AIG) opened at $62.00 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $58.70 billion, a P/E ratio of 25.89, a P/E/G ratio of 1.76 and a beta of 1.23.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, December 7th. American International Group’s dividend payout ratio (DPR) is currently -51.00%.
Several equities analysts have recently issued reports on the company. Wells Fargo & Company reaffirmed a “buy” rating and issued a $75.00 price target on shares of American International Group in a research report on Sunday, October 1st. Buckingham Research began coverage on American International Group in a research report on Monday, September 11th. They issued an “underperform” rating and a $52.00 target price for the company. Deutsche Bank AG reissued a “sell” rating and issued a $60.00 target price (up previously from $57.00) on shares of American International Group in a research report on Wednesday, August 9th. ValuEngine downgraded American International Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, UBS Group AG (USA) cut their price objective on American International Group from $65.00 to $64.00 and set a “neutral” rating for the company in a research note on Tuesday, September 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $68.18.
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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