Market Update (NYSE:AIG): AIG Announces Reinsurance Deal with Swiss Re

[Business Wire] – American International Group, Inc. announced today that it has entered into a two-year reinsurance arrangement with Swiss Re, under which a share of AIG’s new and renewal U.S. Read more on this. American International Group, Inc. (AIG) , valued at $61.59B, opened this morning at $52.22. A quick look at the market, the company’s stock traded between $51.39 and $52.27 and has traded between $50.20 and $64.93 over the past 12 months. Priced at 10.78x this year’s forecasted earnings, AIG shares are relatively inexpensive compared to the industry’s 14.56x forward p/e ratio. The company pays shareholders $1.28 per share in dividend income per year, for a current yield of 2.45%. 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 $0.13 worse than the year-ago quarter and a $0.13 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $4.85 would be a $2.66 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $13.72 Billion. If realized, that would be a 5.96% decrease 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 by the analysts covering the stock is $63.33, which is 21.28% above where the stock opened this morning. See more in (NYSE:AIG) Similar Articles: Company Update (NYSE:AIG): AIG Announces Early Participation Results of Its Cash Tender Offer Market Update (NYSE:AIG): Nearly 14% of Deals Covered by M&A Insurance Resulted in a Claim, According to AIG Study Company Update (NYSE:AIG): AIG Announces Expansion of Board of Directors and Nominates Two New Directors