Allstate Corp Takes $1.50 Million Position in American International Group, Inc. (NYSE:AIG)

Allstate Corp acquired a new position in shares of American International Group, Inc. (NYSE:AIG) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 20,570 shares of the insurance provider’s stock, valued at approximately $1,497,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of American International Group by 32.4% during the 3rd quarter. Wellington Management Group LLP now owns 25,013,346 shares of the insurance provider’s stock worth $1,831,727,000 after acquiring an additional 6,119,996 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in American International Group by 3.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares in the last quarter. Norges Bank acquired a new stake in American International Group in the 4th quarter valued at $718,013,000. Bank of New York Mellon Corp lifted its position in American International Group by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after buying an additional 347,982 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of American International Group by 5.3% during the 3rd quarter. Franklin Resources Inc. now owns 9,162,465 shares of the insurance provider’s stock worth $713,272,000 after buying an additional 457,821 shares during the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AIG shares. Keefe, Bruyette & Woods upped their target price on American International Group from $87.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 14th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. Wells Fargo & Company boosted their price objective on shares of American International Group from $76.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. Hsbc Global Res raised American International Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Morgan Stanley raised their price target on American International Group from $75.00 to $76.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, American International Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.31.

Insiders Place Their Bets

In other American International Group news, Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

American International Group Price Performance

Shares of NYSE AIG opened at $83.55 on Monday. The stock has a market capitalization of $49.57 billion, a PE ratio of -40.17, a P/E/G ratio of 1.01 and a beta of 0.98. American International Group, Inc. has a fifty-two week low of $69.00 and a fifty-two week high of $85.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. The business has a fifty day moving average price of $78.53 and a two-hundred day moving average price of $75.96.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. As a group, equities analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, March 17th. This represents a $1.60 annualized dividend and a yield of 1.92%. American International Group’s dividend payout ratio is currently -76.92%.

American International Group Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.