Market Update (NYSE:AIG): Banks post ‘living wills’ showing how they would avoid U.S. bailout

[Reuters – UK Focus] – More than 120 banks and other financial institutions on Friday posted plans for how they would wind down operations during a crisis, without the help of public money. General Electric Capital Corporation (NYSE: GEB – news) , Prudential (Amsterdam: PD8.AS – news) Financial and American International Group (NYSE: AIG – news) posted their plans, which were originally due July 1, along with other institutions with assets of less than $100 billion. In July, the Federal Reserve and Federal Deposit Insurance Corporation told GE, Prudential and AIG to provide more information on funding, liquidity and connections to the global financial industry in their living wills. Read more on this. American International Group, Inc. (AIG) , with a current market cap of $69.29B, started trading this morning at $55.44. Looking at the stock, its one day range is $55.31 to $56.32 with its 52-week range being $48.68 to $64.93. AIG shares are currently priced at 13.42x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 14.05x earnings multiple. And for income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 1.95%. Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $1.09 per share, which would be $0.12 better than the year-ago quarter and a $0.14 sequential decrease. The full-year EPS estimate is $4.27, which would be a $0.31 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $13.71 Billion. If reported, that would be a 63.80% increase over the year-ago quarter. Recently, Standpoint Research downgraded AIG from Buy to Hold (Nov 23, 2015). Previously, Atlantic Equities downgraded AIG from Neutral to Underweight. When considering if perhaps the stock is under or overvalued, the average price target is $68.11, which is 22.85% above where the stock opened this morning. See more in (NYSE:AIG) Similar Articles: Market Update: American International Group Inc (NYSE:AIG) – AIG Global Real Estate and First & Main Announce a Four-Year Joint Venture to Develop, Own and Operate Senior Living Communities across the US Stock Update (NYSE:AIG): Willis and AIG Launch Evergreen – a New Automatically Renewing Insurance Policy for Mid-Market Clients Stock Update: American International Group Inc (NYSE:AIG) – U.S. government appeals judge’s ruling over 2008 AIG bailout