American International Group, Inc. (AIG) To Go Ex-Dividend on September 16th

American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.40 per share by the insurance provider on Monday, September 30th. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Monday, September 16th.

American International Group has raised its dividend by an average of 3.0% per year over the last three years. American International Group has a payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect American International Group to earn $6.72 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 23.8%.

American International Group Trading Down 0.1 %

NYSE:AIG opened at $73.11 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The stock’s 50 day simple moving average is $74.81 and its 200-day simple moving average is $75.64. American International Group has a 12-month low of $57.72 and a 12-month high of $80.83. The firm has a market cap of $48.52 billion, a P/E ratio of 10.91, a PEG ratio of 3.60 and a beta of 1.06.

American International Group (NYSE:AIG) last issued its earnings results on Wednesday, July 31st. The insurance provider reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.14). American International Group had a negative net margin of 1.54% and a positive return on equity of 9.52%. The firm had revenue of $1.00 million during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the firm earned $1.75 EPS. The firm’s revenue was up .0% on a year-over-year basis. Equities analysts anticipate that American International Group will post 5.24 EPS for the current year.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 8,032,129 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares in the company, valued at $7,077,548,560.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AIG. StockNews.com lowered American International Group from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Keefe, Bruyette & Woods cut their price target 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. Piper Sandler decreased 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. Barclays began coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price for the company. Finally, Citigroup decreased their price target on American International Group from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $83.88.

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.