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

American International Group (NYSE:AIG) announced its quarterly earnings results on Monday. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13, Briefing.com reports. The firm had revenue of $6.75 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $1.61 earnings per share.

American International Group Price Performance

American International Group stock opened at $75.39 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.67 and a current ratio of 0.67. The company has a market capitalization of $48.55 billion, a price-to-earnings ratio of -58.44, a price-to-earnings-growth ratio of 5.21 and a beta of 1.05. The company’s 50 day simple moving average is $75.14 and its 200-day simple moving average is $75.64. American International Group has a 1 year low of $62.52 and a 1 year high of $80.83.

Analyst Upgrades and Downgrades

AIG has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price target on American International Group from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 9th. Bank of America boosted 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. Morgan Stanley cut their price target on shares of American International Group from $82.00 to $80.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. BMO Capital Markets lowered American International Group from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $90.00 to $84.00 in a research report on Tuesday, October 15th. Finally, Piper Sandler lowered their price target on American International Group from $89.00 to $86.00 and set an “overweight” rating for the company in a 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $84.38.

Insiders Place Their Bets

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is owned by 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.