Q1 2024 EPS Estimates for American International Group, Inc. Lowered by Analyst (NYSE:AIG)

American International Group, Inc. (NYSE:AIG) – Analysts at Zacks Research cut their Q1 2024 earnings estimates for American International Group in a research report issued to clients and investors on Monday, September 11th. Zacks Research analyst K. Dey now expects that the insurance provider will earn $1.63 per share for the quarter, down from their previous estimate of $1.65. The consensus estimate for American International Group’s current full-year earnings is $6.71 per share. Zacks Research also issued estimates for American International Group’s Q2 2024 earnings at $1.97 EPS, Q4 2024 earnings at $2.01 EPS and Q2 2025 earnings at $2.51 EPS.

American International Group (NYSE:AIG) last released its quarterly earnings data on Wednesday, August 2nd. The insurance provider reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.21. American International Group had a net margin of 8.94% and a return on equity of 9.28%. The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.28 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share.

Several other research firms also recently weighed in on AIG. Wells Fargo & Company upped their price objective on shares of American International Group from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 15th. Bank of America lowered their target price on shares of American International Group from $73.00 to $68.00 in a report on Friday, June 2nd. BMO Capital Markets lowered their target price on shares of American International Group from $65.00 to $63.00 and set a “market perform” rating for the company in a report on Thursday, August 24th. Barclays increased their target price on shares of American International Group from $58.00 to $66.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, Piper Sandler increased their target price on shares of American International Group from $76.00 to $77.00 in a report on Tuesday, May 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.00.

American International Group Stock Performance

AIG opened at $61.20 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $59.35 and its two-hundred day moving average price is $55.62. American International Group has a 1-year low of $45.66 and a 1-year high of $64.88. The company has a market cap of $43.57 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 0.89 and a beta of 1.14.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Thompson Investment Management Inc. purchased a new position in shares of American International Group during the first quarter worth approximately $28,000. Avalon Trust Co purchased a new position in shares of American International Group during the first quarter worth approximately $28,000. Creative Capital Management Investments LLC purchased a new position in shares of American International Group during the first quarter worth approximately $43,000. Motco bought a new position in shares of American International Group in the fourth quarter worth approximately $53,000. Finally, Glassman Wealth Services grew its holdings in shares of American International Group by 35.5% in the second quarter. Glassman Wealth Services now owns 997 shares of the insurance provider’s stock worth $57,000 after purchasing an additional 261 shares during the last quarter. 88.57% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 10,981,108 shares of the stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $16.41, for a total value of $180,199,982.28. Following the sale, the insider now directly owns 415,413,892 shares of the company’s stock, valued at $6,816,941,967.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other American International Group news, Director William G. Jurgensen sold 635 shares of American International Group stock in a transaction that occurred on Saturday, July 1st. The shares were sold at an average price of $53.47, for a total transaction of $33,953.45. Following the transaction, the director now directly owns 1,190 shares of the company’s stock, valued at $63,629.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder International Group American sold 10,981,108 shares of American International Group stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $16.41, for a total transaction of $180,199,982.28. Following the transaction, the insider now directly owns 415,413,892 shares in the company, valued at $6,816,941,967.72. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,989,500 shares of company stock valued at $180,709,440. 0.49% of the stock is currently owned by corporate insiders.

American International Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, September 14th. American International Group’s payout ratio is 24.37%.

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 General Insurance, and Life and Retirement segments. 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.