B. Riley Analysts Lower Earnings Estimates for American International Group (AIG)
American International Group (NYSE:AIG) – Research analysts at B. Riley dropped their FY2018 earnings per share (EPS) estimates for American International Group in a research report issued on Thursday, April 12th. B. Riley analyst R. Binner now forecasts that the insurance provider will earn $5.70 per share for the year, down from their previous forecast of $5.75.
AIG has been the topic of several other research reports. Wells Fargo reaffirmed a “buy” rating on shares of American International Group in a research report on Tuesday, January 2nd. Zacks Investment Research cut shares of American International Group from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $76.00 price target on shares of American International Group in a research report on Friday, December 22nd. Bank of America upgraded shares of American International Group from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $59.40 to $58.28 in a research note on Friday, February 9th. Finally, Credit Suisse Group set a $73.00 price objective on shares of American International Group and gave the stock a “buy” rating in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $66.16.
American International Group (NYSE:AIG) last issued its quarterly earnings results on Thursday, February 8th. The insurance provider reported $0.57 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.18). American International Group had a positive return on equity of 3.10% and a negative net margin of 12.62%. During the same quarter in the prior year, the firm posted ($2.96) EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.28 annualized dividend and a yield of 2.36%. American International Group’s dividend payout ratio (DPR) is 53.33%.
In other American International Group news, insider Claudine Macartney sold 2,052 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $59.61, for a total value of $122,319.72. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director W Don Cornwell sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $58.78, for a total transaction of $146,950.00. The disclosure for this sale can be found here. 0.05% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in AIG. Janus Henderson Group PLC increased its stake in shares of American International Group by 1.9% in the third quarter. Janus Henderson Group PLC now owns 350,147 shares of the insurance provider’s stock valued at $21,499,000 after purchasing an additional 6,411 shares during the period. Neuberger Berman Group LLC increased its stake in shares of American International Group by 8.0% in the third quarter. Neuberger Berman Group LLC now owns 1,325,707 shares of the insurance provider’s stock valued at $81,385,000 after purchasing an additional 97,953 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in shares of American International Group in the third quarter valued at approximately $163,000. Atlantic Trust Group LLC increased its stake in shares of American International Group by 138.8% in the third quarter. Atlantic Trust Group LLC now owns 37,446 shares of the insurance provider’s stock valued at $2,299,000 after purchasing an additional 21,765 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of American International Group by 1.6% in the third quarter. Prudential Financial Inc. now owns 4,072,049 shares of the insurance provider’s stock valued at $249,983,000 after purchasing an additional 62,850 shares during the period. Institutional investors own 87.25% of the company’s stock.
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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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