American International Group Inc [NYSE: AIG] price plunged by -1.24 percent to reach at -$0.87. The company report on January 31, 2024 at 4:16 PM that AIG to Redeem its Series A Preferred Stock, Represented by Depositary Shares.
American International Group, Inc. (NYSE: AIG) today announced that it will redeem all outstanding shares of its Series A 5.85% Non-Cumulative Perpetual Preferred Stock (CUSIP 026874 750 / ISIN US0268747500) (the “Series A Preferred Stock”) and all the corresponding Depositary Shares (CUSIP 026874 768 / ISIN US0268747682) (the “Depositary Shares”), each representing a 1/1,000th interest in a share of Series A Preferred Stock, on March 15, 2024 (the “Redemption Date”). The redemption price per share of Series A Preferred Stock will be $25,000 (equivalent to $25.00 per Depositary Share) (the “Redemption Price”). The Redemption Price does not include an amount equal to any dividends per share that have been declared but not paid prior to the Redemption Date and that will be payable on the Redemption Date to holders of record on the record date for such dividend payment. As of January 31, 2024, 20,000 shares of Series A Preferred Stock and 20,000,000 Depositary Shares were outstanding.
This press release does not constitute a notice of redemption of the Series A Preferred Stock or the corresponding Depositary Shares. Holders of the Depositary Shares should refer to the notice of redemption delivered to the registered holders of the Depositary Shares by Equiniti Trust Company, as Depositary, with respect to the Depositary Shares.
The one-year AIG stock forecast points to a potential upside of 9.3. The average equity rating for AIG stock is currently 1.74, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on American International Group Inc [AIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AIG shares is $76.64 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AIG stock is a recommendation set at 1.74. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
TD Cowen have made an estimate for American International Group Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on January 10, 2024.
The Average True Range (ATR) for American International Group Inc is set at 0.98, with the Price to Sales ratio for AIG stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.24. Price to Free Cash Flow for AIG in the course of the last twelve months was 10.15.
AIG Stock Performance Analysis:
American International Group Inc [AIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.51. With this latest performance, AIG shares gained by 2.60% in over the last four-week period, additionally plugging by 15.12% over the last 6 months – not to mention a rise of 10.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AIG stock in for the last two-week period is set at 60.35, with the RSI for the last a single of trading hit 59.48, and the three-weeks RSI is set at 60.63 for American International Group Inc [AIG]. The present Moving Average for the last 50 days of trading for this stock 67.08, while it was recorded at 69.55 for the last single week of trading, and 60.42 for the last 200 days.
Insight into American International Group Inc Fundamentals:
American International Group Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 9.87.
AIG Stock EPS
With the latest financial reports released by the company, American International Group Inc posted 1.36/share EPS, while the average EPS was predicted by analysts to be reported at 1.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American International Group Inc go to 14.41%.
American International Group Inc [AIG] Institutonal Ownership Details
The top three institutional holders of AIG stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in AIG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in AIG stock with ownership which is approximately 5.8325%.
