American International Group, Inc. (AIG) To Go Ex-Dividend on June 14th

American International Group, Inc. (NYSE:AIG) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.40 per share by the insurance provider on Friday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, June 14th. This is a boost from American International Group’s previous quarterly dividend of $0.36.

American International Group has increased its dividend by an average of 3.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years.

American International Group Price Performance

Shares of AIG stock traded up $0.38 during trading on Friday, hitting $78.48. The company had a trading volume of 6,295,587 shares, compared to its average volume of 4,001,248. The stock’s 50-day moving average price is $75.24 and its 200 day moving average price is $69.36. The firm has a market capitalization of $53.44 billion, a P/E ratio of 11.71, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. American International Group has a one year low of $48.95 and a one year high of $79.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIG) last released its quarterly earnings data on Thursday, May 2nd. The insurance provider reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.11. The company had revenue of $12.58 billion for the quarter, compared to the consensus estimate of $12.04 billion. American International Group had a return on equity of 10.68% and a net margin of 9.98%. During the same quarter last year, the business posted $1.63 EPS. Equities analysts expect that American International Group will post 6.95 EPS for the current fiscal year.

Insider Transactions at American International Group

In other American International Group news, Director John C. Inglis purchased 659 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was acquired at an average cost of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now directly owns 659 shares in the company, valued at approximately $49,682.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director John C. Inglis acquired 659 shares of the stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the transaction, the director now owns 659 shares of the company’s stock, valued at approximately $49,682.01. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now owns 505,420 shares in the company, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on American International Group from $73.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, April 8th. UBS Group boosted their target price on shares of American International Group from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Citigroup raised their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Piper Sandler upped their price objective on shares of American International Group from $87.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Evercore ISI raised their target price on American International Group from $80.00 to $81.00 and gave the company an “in-line” rating in a research note on Friday. Eight research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American International Group presently has a consensus rating of “Moderate Buy” and an average target price of $80.44.

American International Group declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 1st that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the insurance provider to buy up to 19.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.