American International Group (NYSE:AIG) Posts Quarterly Earnings Results

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

American International Group Stock Down 2.4 %

Shares of AIG traded down $1.83 during trading hours on Tuesday, reaching $74.50. The company’s stock had a trading volume of 2,497,427 shares, compared to its average volume of 4,071,931. The company has a 50 day moving average of $75.13 and a two-hundred day moving average of $75.63. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a market cap of $47.97 billion, a price-to-earnings ratio of -59.61, a P/E/G ratio of 5.21 and a beta of 1.05. American International Group has a 1-year low of $62.52 and a 1-year high of $80.83.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. Barclays started coverage on shares of American International Group in a research note on Wednesday, September 4th. They set an “overweight” rating and a $90.00 price objective on the stock. Jefferies Financial Group boosted their target price on American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Morgan Stanley decreased their price target on American International Group from $82.00 to $80.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. UBS Group lifted their price target on American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on American International Group from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $84.38.

Insider Buying and Selling

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the transaction, the insider now directly owns 279,238,898 shares in the company, valued at $8,058,834,596.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

American International Group Company Profile

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.