American International Group, Inc. (NYSE:AIG) Declares Dividend Increase – $0.45 Per Share

American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Friday, May 2nd, Wall Street Journal reports. Shareholders of record on Friday, June 13th will be paid a dividend of 0.45 per share by the insurance provider on Friday, June 27th. This represents a $1.80 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, June 13th. This is a 12.5% increase from American International Group’s previous quarterly dividend of $0.40.

American International Group has a dividend payout ratio of 23.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect American International Group to earn $7.63 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 23.6%.

American International Group Stock Performance

NYSE AIG opened at $84.35 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. American International Group has a fifty-two week low of $69.00 and a fifty-two week high of $88.07. The business has a fifty day moving average of $82.42 and a 200-day moving average of $78.70. The stock has a market cap of $48.61 billion, a price-to-earnings ratio of -40.55, a price-to-earnings-growth ratio of 1.01 and a beta of 0.64.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.13. American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. The firm had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter last year, the business posted $1.25 EPS. As a group, analysts predict that American International Group will post 6.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. HSBC upgraded shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a report on Wednesday, March 5th. Jefferies Financial Group raised their target price on shares of American International Group from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Morgan Stanley boosted their price target on American International Group from $81.00 to $85.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. UBS Group reduced their price target on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Evercore ISI lifted their price objective on American International Group from $81.00 to $89.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.12.

Insider Buying and Selling

In other American International Group news, EVP Christopher Flatt sold 46,182 shares of American International Group stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president now directly owns 21,400 shares of the company’s stock, valued at $1,781,764. The trade was a 68.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On American International Group

A hedge fund recently bought a new stake in American International Group stock. Brighton Jones LLC purchased a new stake in American International Group, Inc. (NYSE:AIG) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 14,980 shares of the insurance provider’s stock, valued at approximately $1,091,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

About American International Group

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.