American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Wednesday, August 2nd, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.32 per share by the insurance provider on Friday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, September 14th.
American International Group has increased its dividend by an average of 85.7% annually over the last three years and has raised its dividend every year for the last 3 years. American International Group has a payout ratio of 24.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect American International Group to earn $5.39 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 23.7%.
Shares of American International Group (NYSE:AIG) opened at 61.20 on Wednesday. American International Group has a 52 week low of $57.35 and a 52 week high of $67.47. The firm’s market capitalization is $55.29 billion. The stock’s 50 day moving average price is $62.54 and its 200-day moving average price is $62.52.
American International Group (NYSE:AIG) last announced its earnings results on Wednesday, August 2nd. The insurance provider reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.33. The business had revenue of $11.23 billion for the quarter, compared to analyst estimates of $12.61 billion. American International Group had a positive return on equity of 6.06% and a negative net margin of 0.53%. During the same period in the prior year, the company earned $0.98 EPS. Equities analysts predict that American International Group will post $5.27 earnings per share for the current year.
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A number of brokerages have weighed in on AIG. Buckingham Research assumed coverage on American International Group in a research note on Monday. They issued an “underperform” rating and a $52.00 target price on the stock. Royal Bank Of Canada reiterated a “buy” rating and issued a $73.00 price objective on shares of American International Group in a report on Wednesday, September 6th. BidaskClub cut American International Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Deutsche Bank AG reiterated a “sell” rating and issued a $60.00 price objective (up from $57.00) on shares of American International Group in a report on Wednesday, August 9th. Finally, Atlantic Securities cut American International Group from an “overweight” rating to a “neutral” rating and set a $70.00 price objective for the company. in a report on Wednesday, August 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $68.08.
American International Group Company Profile
American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.
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