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

American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Monday, November 4th, Zacks reports. Stockholders 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 dividend yield of 2.12%. The ex-dividend date is Monday, December 16th.

American International Group has increased its dividend by an average of 3.0% per year over the last three years. American International Group has a payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect American International Group to earn $6.78 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 23.6%.

American International Group Stock Performance

American International Group stock traded up $0.20 during midday trading on Wednesday, hitting $75.59. The stock had a trading volume of 2,044,409 shares, compared to its average volume of 4,081,782. American International Group has a 52-week low of $62.52 and a 52-week high of $80.83. The company has a market capitalization of $48.68 billion, a PE ratio of -58.68, a P/E/G ratio of 5.21 and a beta of 1.05. The firm’s fifty day moving average is $75.14 and its two-hundred day moving average is $75.64. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. During the same period in the previous year, the business earned $1.61 earnings per share. On average, research analysts forecast that American International Group will post 4.99 EPS for the current year.

Insider Activity

In other 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on AIG shares. Keefe, Bruyette & Woods cut their target price on shares of American International Group from $96.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $87.00 price objective on shares of American International Group in a research note on Wednesday. Citigroup decreased their target price on shares of American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research report on Tuesday, July 23rd. Bank of America lifted their price target on American International Group from $82.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Piper Sandler decreased their price objective on American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $84.31.

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.