Traders Buy American International Group Inc. (AIG) on Weakness
Traders bought shares of American International Group Inc. (NYSE:AIG) on weakness during trading hours on Friday. $68.17 million flowed into the stock on the tick-up and $39.31 million flowed out of the stock on the tick-down, for a money net flow of $28.86 million into the stock. Of all companies tracked, American International Group had the 18th highest net in-flow for the day. American International Group traded down ($0.37) for the day and closed at $58.67
A number of brokerages have issued reports on AIG. Vetr downgraded American International Group from a “hold” rating to a “sell” rating and set a $55.52 price objective on the stock. in a research report on Wednesday, August 3rd. Wells Fargo & Co. upgraded American International Group from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 26th. Keefe, Bruyette & Woods upped their price objective on American International Group from $70.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. FBR & Co restated a “hold” rating and set a $53.00 price objective on shares of American International Group in a research report on Thursday, August 4th. Finally, JPMorgan Chase & Co. set a $65.00 price objective on American International Group and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $64.75.
The stock’s market capitalization is $62.82 billion. The stock has a 50-day moving average price of $58.05 and a 200 day moving average price of $55.22.
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American International Group (NYSE:AIG) last announced its earnings results on Tuesday, August 2nd. The insurance provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.05. American International Group had a positive return on equity of 1.33% and a negative net margin of 0.64%. During the same period last year, the business earned $1.39 EPS. Equities research analysts forecast that American International Group Inc. will post $4.04 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Tuesday, September 13th. American International Group’s dividend payout ratio is currently -799.95%.
About American International Group
American International Group, Inc (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services to customers in over 100 countries and jurisdictions. The Company operates through two segments: Commercial Insurance and Consumer Insurance, as well as a Corporate and Other category.
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