Franklin Resources Inc. Acquires 4,210,363 Shares of American International Group, Inc. $AIG

Franklin Resources Inc. boosted its holdings in shares of American International Group, Inc. (NYSE:AIG) by 36.9% in the fourth quarter, Holdings Channel reports. The firm owned 15,618,321 shares of the insurance provider’s stock after purchasing an additional 4,210,363 shares during the quarter. Franklin Resources Inc.’s holdings in American International Group were worth $1,336,147,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in American International Group by 2.6% during the second quarter. Geneos Wealth Management Inc. now owns 5,072 shares of the insurance provider’s stock worth $434,000 after purchasing an additional 129 shares during the period. Westwood Holdings Group Inc. lifted its stake in American International Group by 2.9% during the second 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 raised its stake in shares of American International Group by 17.7% in the third quarter. JFS Wealth Advisors LLC now owns 872 shares of the insurance provider’s stock valued at $68,000 after acquiring an additional 131 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of American International Group by 12.6% in the fourth quarter. Larson Financial Group LLC now owns 1,250 shares of the insurance provider’s stock valued at $107,000 after acquiring an additional 140 shares during the last quarter. Finally, One Wealth Capital Management LLC raised its stake in shares of American International Group by 3.7% in the third quarter. One Wealth Capital Management LLC now owns 4,005 shares of the insurance provider’s stock valued at $315,000 after acquiring an additional 144 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AIG shares. The Goldman Sachs Group lifted their target price on shares of American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Bank of America cut their target price on shares of American International Group from $80.00 to $79.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on shares of American International Group from $97.00 to $86.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Mizuho lifted their target price on shares of American International Group from $84.00 to $86.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Cantor Fitzgerald lifted their target price on shares of American International Group from $81.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $88.06.

American International Group Price Performance

AIG opened at $75.51 on Monday. The company has a fifty day moving average price of $76.04 and a two-hundred day moving average price of $77.44. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The firm has a market capitalization of $40.03 billion, a PE ratio of 13.32, a P/E/G ratio of 0.69 and a beta of 0.52.

American International Group (NYSE:AIG) last released its earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a net margin of 11.86% and a return on equity of 10.93%. The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.03 billion. During the same quarter in the previous year, the business earned $1.17 EPS. As a group, analysts anticipate that American International Group, Inc. will post 7.99 earnings per share for the current year.

American International Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a $0.50 dividend. This is a positive change from American International Group’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 annualized dividend and a dividend yield of 2.6%. American International Group’s dividend payout ratio (DPR) is presently 31.75%.

American International Group Company 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.