In yesterday’s Wall Street session, American International Group Inc (NYSE:AIG) shares traded at $78.34, up 1.23% from the previous session.
AIG stock price is now 9.31% away from the 50-day moving average and 22.22% away from the 200-day moving average. The market capitalization of the company currently stands at $53.35B.
With the price target enhanced from $75 to $77, BofA Securities Downgraded its rating from Buy to Neutral for American International Group Inc (NYSE: AIG). On January 10, 2024, TD Cowen recently initiated its ‘Market Perform’ rating on the stock quoting a target price of $78, while ‘JP Morgan’ rates the stock as ‘Neutral’
In other news, Zaffino Peter, Chairman & CEO sold 333,000 shares of the company’s stock on Mar 15 ’24. The stock was sold for $25,265,116 at an average price of $75.87. Upon completion of the transaction, the Chairman & CEO now directly owns 505,420 shares in the company, valued at $39.59 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 14 ’24, Director Inglis John C bought 659 shares of the business’s stock. A total of $49,682 was incurred on buying the stock at an average price of $75.39. This leaves the insider owning 659 shares of the company worth $51626.06. A total of 0.25% of the company’s stock is owned by insiders.
During the past 12 months, American International Group Inc has had a low of $47.06 and a high of $77.63. According to the stock market information, the enterprise value for the company is $74.06B, which is based on a 15.68 price-to-earnings ratio, a 1.57 price-to-earnings-growth ratio, and a beta of 1.04. The fifty day moving average price for AIG is $71.89 and a two-hundred day moving average price translates $64.20 for the stock.
The latest earnings results from American International Group Inc (NYSE: AIG) was released for Dec, 2023. According to the Insurance – Diversified Company, earnings per share came in at $1.79, beating analysts’ expectations of $1.64 by 0.15. This compares to $0.92 EPS in the same period last year. The net profit margin was 7.72% and return on equity was 8.54% for AIG. The company reported revenue of $9.83 billion for the quarter, compared to $11.85 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -17.05 percent. For the current quarter, analysts expect AIG to generate $11.72B in revenue.
