American International Group (NYSE:AIG) Releases Earnings Results, Beats Expectations By $0.13 EPS

American International Group (NYSE:AIG) announced its quarterly earnings data on Monday. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share.

American International Group Stock Down 2.4 %

Shares of AIG stock traded down $1.83 during trading hours on Tuesday, reaching $74.50. The company had a trading volume of 2,497,427 shares, compared to its average volume of 4,071,931. The company has a market capitalization of $47.97 billion, a P/E ratio of -59.61, a price-to-earnings-growth ratio of 5.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. American International Group has a twelve month low of $62.52 and a twelve month high of $80.83. The stock’s fifty day simple moving average is $75.13 and its 200 day simple moving average is $75.63.

Analysts Set New Price Targets

AIG has been the topic of a number of recent analyst reports. TD Cowen reduced their price target on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. Royal Bank of Canada reiterated an “outperform” rating and set a $87.00 target price on shares of American International Group in a research report on Tuesday, July 9th. Evercore ISI lowered their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Piper Sandler cut their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, 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 report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $84.38.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of American International Group stock in a transaction on 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

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.