American International Group (NYSE:AIG) Issues Earnings Results, Misses Estimates By $0.03 EPS

American International Group (NYSE:AIG) issued its quarterly earnings results on Tuesday. The insurance provider reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03), Zacks reports. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%.

American International Group Price Performance

NYSE:AIG opened at $75.94 on Wednesday. The firm has a market cap of $47.37 billion, a price-to-earnings ratio of -22.40, a price-to-earnings-growth ratio of 5.87 and a beta of 1.05. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average is $73.44 and its two-hundred day moving average is $74.46. American International Group has a 12-month low of $68.04 and a 12-month high of $80.83.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AIG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $87.00 price target on shares of American International Group in a research note on Wednesday, November 6th. BMO Capital Markets cut shares of American International Group from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. UBS Group boosted their price objective on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, October 15th. Keefe, Bruyette & Woods dropped their price objective on shares of American International Group from $88.00 to $87.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, American International Group currently has a consensus rating of “Hold” and an average price target of $84.13.

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.