American International Group (NYSE:AIG) Announces Earnings Results, Beats Estimates By $0.13 EPS

American International Group (NYSE:AIG - Get Free Report) released its quarterly earnings results on Monday. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.13, Briefing.com reports. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 9.52% and a negative net margin of 1.54%. During the same period in the previous year, the company posted $1.61 EPS.

American International Group Price Performance

AIG traded down $0.94 on Tuesday, reaching $75.39. The stock had a trading volume of 6,384,935 shares, compared to its average volume of 4,091,298. American International Group has a fifty-two week low of $62.52 and a fifty-two week high of $80.83. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average of $75.14 and a 200-day moving average of $75.64. The company has a market capitalization of $48.55 billion, a price-to-earnings ratio of -58.44, a price-to-earnings-growth ratio of 5.21 and a beta of 1.05.

Analyst Upgrades and Downgrades

AIG has been the subject of several analyst reports. Piper Sandler dropped their price objective on American International Group from $89.00 to $86.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Evercore ISI dropped 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. Keefe, Bruyette & Woods dropped their price objective on American International Group from $96.00 to $90.00 and set an "outperform" rating for the company in a report on Monday, August 12th. Wells Fargo & Company dropped their price objective on American International Group from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Finally, UBS Group lifted their price objective on American International Group from $84.00 to $88.00 and gave the company a "buy" rating in a report on Tuesday, October 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, American International Group presently has a consensus rating of "Hold" and a consensus target price of $84.38.

Insider Activity at American International Group

In other news, major shareholder International Group American sold 8,032,129 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $24.90, for a total value of $200,000,012.10. Following the completion of the sale, the insider now directly owns 284,238,898 shares of the company's stock, valued at $7,077,548,560.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by corporate insiders.

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.