American International Group (NYSE:AIG) released its quarterly earnings results on Wednesday. The insurance provider reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($1.10), RTT News reports. American International Group had a negative net margin of 12.73% and a positive return on equity of 3.44%. During the same quarter last year, the firm posted $0.57 earnings per share.
AIG traded up $0.35 during trading hours on Wednesday, hitting $44.18. 5,287,528 shares of the company’s stock were exchanged, compared to its average volume of 5,050,882. American International Group has a 1-year low of $36.16 and a 1-year high of $61.36. The stock has a market capitalization of $38.77 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 0.83 and a beta of 1.38. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.58.
Several research firms have recently weighed in on AIG. Morgan Stanley set a $65.00 price target on shares of American International Group and gave the company a “buy” rating in a report on Wednesday, October 17th. Wells Fargo & Co set a $62.00 target price on shares of American International Group and gave the stock a “buy” rating in a report on Thursday, October 18th. Deutsche Bank reduced their target price on shares of American International Group from $54.00 to $52.00 and set a “hold” rating for the company in a report on Monday, October 22nd. ValuEngine cut shares of American International Group from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Credit Suisse Group assumed coverage on shares of American International Group in a report on Tuesday, February 5th. They set a “neutral” rating and a $46.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $54.85.
American International Group Company Profile
American International Group, Inc provides insurance products for commercial, institutional, and individual customers primarily in the United States, Europe, and Japan. The company's General Insurance segment offers general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products, as well as various risk-sharing and other customized structured programs; commercial, industrial, and energy-related property insurance; and aerospace, political risk, trade credit, portfolio solutions, surety, and marine insurance.
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