Allstate Corp Buys Shares of 20,570 American International Group, Inc. (NYSE:AIG)

Allstate Corp purchased a new position in shares of American International Group, Inc. (NYSE:AIG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,570 shares of the insurance provider’s stock, valued at approximately $1,497,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Duncker Streett & Co. Inc. bought a new position in American International Group during the 4th quarter worth $25,000. Asset Planning Inc bought a new position in shares of American International Group during the fourth quarter worth about $26,000. True Wealth Design LLC acquired a new position in shares of American International Group in the third quarter worth approximately $29,000. BankPlus Trust Department bought a new stake in American International Group in the fourth quarter valued at approximately $36,000. Finally, Whipplewood Advisors LLC acquired a new stake in American International Group during the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

American International Group Trading Down 1.0 %

NYSE:AIG opened at $83.55 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67. American International Group, Inc. has a one year low of $69.00 and a one year high of $85.11. The company has a market cap of $49.57 billion, a PE ratio of -40.17, a PEG ratio of 1.01 and a beta of 0.98. The firm has a 50-day moving average of $78.53 and a 200-day moving average of $75.96.

American International Group (NYSE:AIG) last issued its quarterly earnings data 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 positive return on equity of 8.01% and a negative net margin of 4.25%. As a group, equities research analysts expect that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Keefe, Bruyette & Woods upped their price target on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, February 14th. Morgan Stanley lifted their price objective on American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. UBS Group cut their target price on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, HSBC upgraded American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a report on Wednesday, March 5th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, American International Group presently has an average rating of “Moderate Buy” and an average target price of $84.31.

Insiders Place Their Bets

In other news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $77.00 per share, with a total value of $770,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $770,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Company 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.