American International Group, Inc. (AIG) to Issue Quarterly Dividend of $0.40 on December 30th

American International Group, Inc. (NYSE:AIG) announced a quarterly dividend on Monday, November 4th, Zacks reports. Shareholders of record on Monday, December 16th will be paid a dividend of 0.40 per share by the insurance provider on Monday, December 30th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, December 16th.

American International Group has increased its dividend payment by an average of 3.0% annually over the last three years. American International Group has a payout ratio of 23.4% meaning its dividend is sufficiently covered by earnings. Analysts expect American International Group to earn $6.78 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 23.6%.

American International Group Stock Performance

Shares of AIG traded up $0.62 during mid-day trading on Wednesday, reaching $76.01. 2,298,829 shares of the company’s stock were exchanged, compared to its average volume of 4,082,966. The business’s fifty day simple moving average is $75.14 and its 200-day simple moving average is $75.64. American International Group has a 52-week low of $62.52 and a 52-week high of $80.83. The stock has a market capitalization of $48.95 billion, a PE ratio of -58.68, a price-to-earnings-growth ratio of 5.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. The firm had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same quarter in the previous year, the firm posted $1.61 EPS. On average, equities research analysts expect that American International Group will post 4.99 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AIG. Keefe, Bruyette & Woods dropped their target price 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. Evercore ISI reduced their price objective on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a report on Wednesday, October 9th. Barclays assumed coverage on American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 target price on the stock. JPMorgan Chase & Co. upgraded shares of American International Group from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $93.00 to $89.00 in a research report on Thursday, October 10th. Finally, Piper Sandler dropped their target price on shares of 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $84.31.

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.