American International Group, Inc. (NYSE:AIG – Get Rating) – Equities research analysts at William Blair raised their Q3 2022 earnings estimates for shares of American International Group in a report released on Wednesday, May 4th. William Blair analyst A. Klauber now forecasts that the insurance provider will post earnings of $1.22 per share for the quarter, up from their previous forecast of $1.20. William Blair also issued estimates for American International Group’s FY2022 earnings at $5.20 EPS, Q2 2023 earnings at $1.59 EPS, Q3 2023 earnings at $1.46 EPS, Q4 2023 earnings at $1.65 EPS and FY2023 earnings at $6.20 EPS.
A number of other research firms have also weighed in on AIG. Barclays upped their target price on shares of American International Group from $61.00 to $63.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 12th. Wolfe Research lowered shares of American International Group from an “outperform” rating to a “market perform” rating and set a $65.00 target price on the stock. in a report on Thursday, February 10th. Finally, StockNews.com started coverage on shares of American International Group in a report on Thursday, March 31st. They set a “hold” rating on the stock. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $63.33.
American International Group (NYSE:AIG – Get Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.30. American International Group had a net margin of 18.30% and a return on equity of 6.87%. During the same period last year, the company earned $1.05 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.06%. American International Group’s dividend payout ratio (DPR) is 11.07%.
American International Group announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 3rd that permits the company to repurchase $6.50 billion in outstanding shares. This repurchase authorization permits the insurance provider to purchase up to 13.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in American International Group by 0.3% during the 4th quarter. State Street Corp now owns 38,742,644 shares of the insurance provider’s stock valued at $2,202,907,000 after buying an additional 131,235 shares during the period. Capital Research Global Investors boosted its position in American International Group by 0.9% during the 3rd quarter. Capital Research Global Investors now owns 35,673,403 shares of the insurance provider’s stock valued at $1,958,119,000 after buying an additional 301,763 shares during the period. Geode Capital Management LLC boosted its position in American International Group by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 13,618,835 shares of the insurance provider’s stock valued at $772,068,000 after buying an additional 347,548 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in American International Group by 0.6% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,030,704 shares of the insurance provider’s stock valued at $715,255,000 after buying an additional 78,963 shares during the period. Finally, Nuveen Asset Management LLC raised its stake in American International Group by 12.2% in the fourth quarter. Nuveen Asset Management LLC now owns 11,557,773 shares of the insurance provider’s stock worth $657,176,000 after buying an additional 1,256,195 shares in the last quarter. 92.57% of the stock is owned by institutional investors.
About American International Group (Get Rating)
American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. The company's General Insurance segment provides general liability, environmental, commercial automobile liability, workers' compensation, casualty, and crisis management insurance products; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, crop, and marine insurance.
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