American International Group (NYSE:AIG) Announces Earnings Results

American International Group (NYSE:AIG) announced its quarterly earnings results on Monday. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13, Briefing.com reports. American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the firm posted $1.61 EPS.

American International Group Stock Performance

NYSE AIG opened at $75.39 on Wednesday. The company has a market cap of $48.55 billion, a P/E ratio of -58.44, a P/E/G ratio of 5.21 and a beta of 1.05. The business’s 50 day moving average price is $75.14 and its 200-day moving average price is $75.64. American International Group has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.61% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Keefe, Bruyette & Woods lowered their target price on American International Group from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. TD Cowen reduced their price target on shares of American International Group from $83.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Royal Bank of Canada restated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. raised shares of American International Group from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $93.00 to $89.00 in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus price target of $84.38.

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.