American International Group Inc (NYSE:AIG) announced a quarterly dividend on Thursday, August 2nd, RTT News reports. Stockholders of record on Monday, September 17th will be paid a dividend of 0.32 per share by the insurance provider on Friday, September 28th. This represents a $1.28 annualized dividend and a dividend yield of 2.32%.
American International Group has increased its dividend payment by an average of 36.8% per year over the last three years. American International Group has a payout ratio of 26.8% meaning its dividend is sufficiently covered by earnings. Analysts expect American International Group to earn $5.55 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 23.1%.
Get American International Group alerts:Shares of American International Group traded up $0.20, hitting $55.19, during trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 261,634 shares, compared to its average volume of 3,300,023. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.53. The firm has a market cap of $49.56 billion, a price-to-earnings ratio of 22.95, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. American International Group has a fifty-two week low of $49.57 and a fifty-two week high of $67.30.
American International Group (NYSE:AIG) last announced its quarterly earnings data on Wednesday, May 2nd. The insurance provider reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.26 by ($0.22). The firm had revenue of $11.73 billion during the quarter, compared to analyst estimates of $11.60 billion. American International Group had a negative net margin of 13.03% and a positive return on equity of 2.65%. During the same quarter last year, the company earned $1.36 EPS. analysts anticipate that American International Group will post 4.78 earnings per share for the current fiscal year.
In other American International Group news, Director Douglas M. Steenland acquired 4,800 shares of American International Group stock in a transaction that occurred on Friday, May 4th. The stock was purchased at an average cost of $52.06 per share, with a total value of $249,888.00. Following the purchase, the director now owns 3,510 shares in the company, valued at $182,730.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Thomas B. Leonardi acquired 2,500 shares of American International Group stock in a transaction that occurred on Friday, May 4th. The stock was acquired at an average cost of $51.55 per share, with a total value of $128,875.00. Following the completion of the purchase, the insider now owns 2,500 shares in the company, valued at approximately $128,875. The disclosure for this purchase can be found here. Corporate insiders own 0.05% of the company’s stock.
Several brokerages have recently weighed in on AIG. ValuEngine lowered American International Group from a “hold” rating to a “sell” rating in a report on Thursday. JPMorgan Chase & Co. restated a “neutral” rating and issued a $63.00 price objective on shares of American International Group in a report on Saturday, June 2nd. Deutsche Bank cut their price objective on American International Group from $60.00 to $58.00 and set a “hold” rating for the company in a report on Thursday, May 3rd. Zacks Investment Research lowered American International Group from a “buy” rating to a “hold” rating in a report on Monday, July 16th. Finally, Goldman Sachs Group upgraded American International Group from a “neutral” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Thursday, May 10th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company’s stock. American International Group has a consensus rating of “Hold” and a consensus price target of $64.88.
About American International Group
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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