American International Group, Inc. Announces Quarterly Dividend of $0.40 (NYSE:AIG)

American International Group, Inc. (NYSE:AIG) declared a quarterly dividend on Monday, November 4th,Zacks Dividends reports. Shareholders of record on Monday, December 16th will be given a dividend of 0.40 per share by the insurance provider on Monday, December 30th. This represents a $1.60 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Monday, December 16th.

American International Group has raised its dividend by an average of 3.0% annually over the last three years. American International Group has a payout ratio of 23.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect American International Group to earn $6.60 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 24.2%.

American International Group Price Performance

NYSE AIG opened at $72.86 on Friday. American International Group has a 52 week low of $65.69 and a 52 week high of $80.83. The company has a 50-day moving average price of $76.03 and a 200-day moving average price of $75.21. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $45.45 billion, a P/E ratio of -21.49, a PEG ratio of 7.30 and a beta of 1.05.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion during the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. During the same period last year, the firm posted $1.61 EPS. Equities research analysts anticipate that American International Group will post 5.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AIG. JPMorgan Chase & Co. upgraded American International Group from a “neutral” rating to an “overweight” rating and dropped their price objective for the company from $93.00 to $89.00 in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Wells Fargo & Company reduced their target price on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. Bank of America boosted their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, Evercore ISI dropped their target price on shares of American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 9th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.80.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.61% 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.