Company Update (NYSE:AIG): AIG Announces Expansion of Board of Directors and Nominates Two New Directors

[Business Wire] – American International Group, Inc. said today that its Board of Directors has agreed to expand the size of the AIG Board from 14 seats to 16 seats. Read more on this. American International Group, Inc. (AIG) , valued at $62.49B, began trading this morning at $51.05. Looking at the equity, the company’s one day range is $50.38 to $51.47 with a trailing 52-week range being $50.38 to $64.93. AIG shares are currently priced at 22.35x this year’s forecasted earnings, which makes them relatively expensive compared to the industry ’s 13.12x forward p/e ratio. And for income investors, the company pays shareholders $1.12 per share annually in dividends, yielding 2.10%. In a review of the consensus earnings estimate this quarter, 18 sell-side analysts are looking at $-0.91 per share, which would be $0.97 better than the year-ago quarter and a $1.16 sequential increase. The full-year EPS estimate is $2.34 which would be a $2.24 worse than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $13.54 Billion. If realized, that would be a 61.77% increase over the year-ago quarter. In terms of ratings, Standpoint Research upgraded AIG from Hold to Buy (Jan 19, 2016). Previously, Standpoint Research downgraded AIG from Buy to Hold. The average price target for AIG shares is $67.00, which is 31.24% above where the stock opened this morning. See more in (NYSE:AIG) Similar Articles: Company Update (NYSE:AIG): AIG to spin off mortgage unit, cut jobs in sweeping overhaul Company Update: American International Group Inc (NYSE:AIG) – ASSA to Acquire AIG Operations in Central America Company Update: American International Group Inc (NYSE:AIG) – A.M. Best Withdraws Ratings of The Fuji Fire & Marine Insurance Company, Limited and AIU Insurance Company, Ltd.