American International Group Inc (NYSE:AIG)’s share price gapped up prior to trading on Friday following a dividend announcement from the company. The stock had previously closed at $59.09, but opened at $60.22. American International Group shares last traded at $60.22, with a volume of 15120000 shares trading hands.

The newly announced dividend which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, March 14th. American International Group’s dividend payout ratio is presently -51.41%.

Several research firms have recently weighed in on AIG. Bank of America raised shares of American International Group from a “neutral” rating to a “buy” rating and decreased their price target for the company from $59.40 to $58.28 in a research note on Friday. Credit Suisse Group set a $73.00 price target on shares of American International Group and gave the company a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 2nd. Wells Fargo & Co reaffirmed a “buy” rating on shares of American International Group in a research note on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $76.00 price target on shares of American International Group in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $66.87.

The firm has a market cap of $55,940.00, a price-to-earnings ratio of -24.18, a PEG ratio of 0.95 and a beta of 1.17. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.43.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Thursday, February 8th. The insurance provider reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.18). American International Group had a negative net margin of 5.07% and a positive return on equity of 3.02%. During the same quarter in the previous year, the business earned ($2.96) EPS. analysts forecast that American International Group Inc will post 5.57 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of AIG. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in American International Group by 121.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,631,331 shares of the insurance provider’s stock worth $959,607,000 after purchasing an additional 8,586,682 shares during the last quarter. Boston Partners grew its holdings in American International Group by 15.2% in the fourth quarter. Boston Partners now owns 9,024,337 shares of the insurance provider’s stock worth $537,670,000 after purchasing an additional 1,188,645 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in American International Group by 1.6% in the fourth quarter. Bank of New York Mellon Corp now owns 8,984,065 shares of the insurance provider’s stock worth $535,269,000 after purchasing an additional 137,210 shares during the last quarter. Pzena Investment Management LLC grew its holdings in American International Group by 6.8% in the fourth quarter. Pzena Investment Management LLC now owns 6,950,107 shares of the insurance provider’s stock worth $414,087,000 after purchasing an additional 442,750 shares during the last quarter. Finally, Prudential Financial Inc. grew its holdings in American International Group by 1.6% in the third quarter. Prudential Financial Inc. now owns 4,072,049 shares of the insurance provider’s stock worth $249,983,000 after purchasing an additional 62,850 shares during the last quarter. 85.81% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “American International Group (AIG) Shares Gap Up Following Dividend Announcement” was posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://theolympiareport.com/2018/02/11/american-international-group-aig-shares-gap-up-following-dividend-announcement.html.

About American International Group

American International Group, Inc is a global insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products and other financial services to commercial and individual customers. Its segments include Commercial Insurance, Consumer Insurance, Other Operations and Legacy Portfolio.

Receive News & Ratings for American International Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American International Group and related companies with MarketBeat.com's FREE daily email newsletter.