Franklin Resources Inc. Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Franklin Resources Inc. grew its holdings in shares of American International Group, Inc. (NYSE:AIG) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 9,162,465 shares of the insurance provider’s stock after purchasing an additional 457,821 shares during the period. Franklin Resources Inc.’s holdings in American International Group were worth $713,272,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Synovus Financial Corp lifted its position in shares of American International Group by 6.5% during the 3rd quarter. Synovus Financial Corp now owns 42,684 shares of the insurance provider’s stock worth $3,126,000 after buying an additional 2,603 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in American International Group during the 3rd quarter worth $1,005,000. Virtu Financial LLC purchased a new stake in American International Group in the third quarter valued at $2,880,000. Advisory Resource Group boosted its stake in American International Group by 5.3% in the third quarter. Advisory Resource Group now owns 58,996 shares of the insurance provider’s stock valued at $4,320,000 after acquiring an additional 2,951 shares in the last quarter. Finally, M&T Bank Corp grew its holdings in shares of American International Group by 329.0% during the third quarter. M&T Bank Corp now owns 98,964 shares of the insurance provider’s stock worth $7,247,000 after purchasing an additional 75,894 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.

American International Group Stock Up 0.6 %

AIG opened at $72.86 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 12 month low of $65.69 and a 12 month high of $80.83. The stock has a market capitalization of $45.45 billion, a P/E ratio of -21.49, a P/E/G ratio of 7.30 and a beta of 1.05. The business has a 50 day simple moving average of $76.03 and a 200-day simple moving average of $75.21.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities analysts anticipate that American International Group, Inc. will post 5.12 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. American International Group’s dividend payout ratio (DPR) is presently -47.20%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods reduced their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Barclays started coverage on American International Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 6th. UBS Group upped their price target on shares of American International Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets downgraded shares of American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $90.00 to $84.00 in a research report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $84.80.

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.