American International Group Inc (AIG) to Issue Quarterly Dividend of $0.32
American International Group Inc (NYSE:AIG) declared a quarterly dividend on Wednesday, October 31st, RTT News reports. Shareholders of record on Wednesday, December 12th will be paid a dividend of 0.32 per share by the insurance provider on Wednesday, December 26th. This represents a $1.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Tuesday, December 11th.
American International Group has raised its dividend by an average of 36.8% per year over the last three years. American International Group has a payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect American International Group to earn $5.04 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 25.4%.
Shares of AIG opened at $40.77 on Thursday. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.58. American International Group has a twelve month low of $39.29 and a twelve month high of $65.05. The stock has a market cap of $36.07 billion, a price-to-earnings ratio of 16.99, a P/E/G ratio of 1.43 and a beta of 1.49.
Several research analysts have weighed in on the stock. Barclays lowered their target price on shares of American International Group from $71.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, November 12th. Morgan Stanley lowered their target price on shares of American International Group from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Argus reduced their price target on shares of American International Group from $58.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. JPMorgan Chase & Co. set a $55.00 price target on shares of American International Group and gave the company a “hold” rating in a report on Thursday, November 1st. Finally, Deutsche Bank raised shares of American International Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $60.02.
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American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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