Bruce G. Allen Investments LLC Takes Position in American International Group, Inc. (NYSE:AIG)

Bruce G. Allen Investments LLC purchased a new stake in American International Group, Inc. (NYSE:AIGFree Report) in the fourth quarter, Holdings Channel reports. The firm purchased 1,007 shares of the insurance provider’s stock, valued at approximately $68,000.

A number of other large investors have also made changes to their positions in AIG. Norges Bank purchased a new stake in shares of American International Group in the fourth quarter valued at approximately $736,063,000. Morgan Stanley lifted its holdings in American International Group by 55.1% in the fourth quarter. Morgan Stanley now owns 10,519,406 shares of the insurance provider’s stock valued at $665,247,000 after acquiring an additional 3,738,346 shares during the last quarter. Sessa Capital IM L.P. acquired a new position in American International Group in the first quarter valued at approximately $73,040,000. Comerica Bank acquired a new position in American International Group in the second quarter valued at approximately $80,676,000. Finally, Deutsche Bank AG lifted its holdings in American International Group by 58.1% in the first quarter. Deutsche Bank AG now owns 3,686,994 shares of the insurance provider’s stock valued at $185,677,000 after acquiring an additional 1,354,652 shares during the last quarter. 88.57% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the sale, the chief executive officer now owns 505,420 shares in the company, valued at $38,346,215.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other American International Group news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, for a total transaction of $49,682.01. Following the completion of the purchase, the director now owns 659 shares of the company’s stock, valued at $49,682.01. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Peter Zaffino sold 333,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the sale, the chief executive officer now owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on AIG shares. Argus upgraded American International Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a report on Tuesday, November 21st. BMO Capital Markets decreased their price target on American International Group from $83.00 to $81.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. HSBC began coverage on American International Group in a research note on Thursday, December 28th. They set a “buy” rating and a $86.00 price target on the stock. Wells Fargo & Company upped their price target on American International Group from $66.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Finally, Bank of America cut American International Group from a “buy” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $77.00 in a research note on Tuesday, February 20th. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.06.

Check Out Our Latest Stock Analysis on AIG

American International Group Stock Performance

Shares of AIG stock opened at $75.49 on Wednesday. The stock’s 50-day moving average is $70.77 and its two-hundred day moving average is $66.05. The firm has a market cap of $51.40 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.07 and a beta of 1.02. American International Group, Inc. has a 1 year low of $45.66 and a 1 year high of $76.52. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.31.

American International Group (NYSE:AIGGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. The company had revenue of $1.00 million for the quarter, compared to analyst estimates of $11.61 billion. American International Group had a return on equity of 10.68% and a net margin of 7.78%. The business’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter last year, the company posted $1.36 earnings per share. Analysts predict that American International Group, Inc. will post 7.11 earnings per share for the current year.

American International Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, March 13th. American International Group’s payout ratio is 28.86%.

About American International Group

(Free Report)

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.

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Institutional Ownership by Quarter for American International Group (NYSE:AIG)

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