American International Group, Inc. $AIG Shares Acquired by Allstate Corp

Key Points

• Allstate Corp more than doubled its stake in American International Group during the fourth quarter, buying 21,641 additional shares and bringing its total to 43,149 shares worth about $3.69 million.
• Analyst sentiment remains mixed, with AIG carrying an average “Hold” rating and a consensus price target of $88.06 despite some recent target adjustments by major firms.
• AIG reported better-than-expected earnings of $2.11 per share for the latest quarter, and the company also raised its quarterly dividend to $0.50 per share from $0.45.

Allstate Corp lifted its holdings in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 100.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,149 shares of the insurance provider's stock after purchasing an additional 21,641 shares during the quarter. Allstate Corp's holdings in American International Group were worth $3,691,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in AIG. Geneos Wealth Management Inc. boosted its holdings in American International Group by 2.6% in the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider's stock valued at $434,000 after acquiring an additional 129 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of American International Group by 2.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 4,627 shares of the insurance provider's stock worth $396,000 after purchasing an additional 130 shares during the period. JFS Wealth Advisors LLC lifted its stake in shares of American International Group by 17.7% in the 3rd quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider's stock valued at $68,000 after purchasing an additional 131 shares in the last quarter. Howard Capital Management Inc. lifted its stake in shares of American International Group by 3.0% in the 3rd quarter. Howard Capital Management Inc. now owns 4,717 shares of the insurance provider's stock valued at $370,000 after purchasing an additional 138 shares in the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of American International Group by 12.6% in the 4th quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider's stock valued at $107,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AIG shares. JPMorgan Chase & Co. reduced their price objective on American International Group from $97.00 to $86.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Morgan Stanley reduced their price objective on American International Group from $83.00 to $82.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Bank of America reduced their price objective on American International Group from $80.00 to $79.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 14th. Keefe, Bruyette & Woods boosted their price objective on American International Group from $97.00 to $98.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Finally, Mizuho boosted their price objective on American International Group from $84.00 to $86.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $88.06.

American International Group Stock Down 2.5%

Shares of NYSE AIG opened at $75.23 on Thursday. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $87.46. The firm has a market cap of $39.89 billion, a price-to-earnings ratio of 13.27, a PEG ratio of 0.71 and a beta of 0.53. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. The stock's 50-day simple moving average is $76.17 and its 200-day simple moving average is $77.61.

American International Group (NYSE:AIG - Get Free Report) last announced its earnings results on Friday, May 1st. The insurance provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.03 billion. During the same period in the previous year, the company earned $1.17 earnings per share. As a group, equities analysts anticipate that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 15th. This is a positive change from American International Group's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.7%. American International Group's dividend payout ratio is presently 31.75%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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