Franklin Resources Inc. Sells 1,128,186 Shares of American International Group, Inc. $AIG

Franklin Resources Inc. decreased its stake in shares of American International Group, Inc. (NYSE:AIG) by 9.0% in the third quarter, Holdings Channel reports. The institutional investor owned 11,407,958 shares of the insurance provider’s stock after selling 1,128,186 shares during the quarter. Franklin Resources Inc.’s holdings in American International Group were worth $896,001,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AIG. Westfuller Advisors LLC bought a new position in shares of American International Group during the third quarter valued at $26,000. Atlantic Union Bankshares Corp boosted its stake in American International Group by 7,100.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock worth $28,000 after purchasing an additional 355 shares in the last quarter. Eastern Bank boosted its stake in American International Group by 2,473.3% in the 3rd quarter. Eastern Bank now owns 386 shares of the insurance provider’s stock worth $30,000 after purchasing an additional 371 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in American International Group during the 2nd quarter valued at about $32,000. Finally, Motco grew its position in American International Group by 950.0% during the 3rd quarter. Motco now owns 420 shares of the insurance provider’s stock valued at $33,000 after purchasing an additional 380 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on AIG. Evercore decreased their target price on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. Cantor Fitzgerald increased their price target on shares of American International Group from $77.00 to $81.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. Jefferies Financial Group raised their price target on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Bank of America lowered their price objective on American International Group from $89.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, January 16th. Finally, Keefe, Bruyette & Woods increased their target price on American International Group from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, American International Group presently has an average rating of “Hold” and an average price target of $87.95.

American International Group Stock Performance

Shares of AIG stock opened at $78.07 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a 50 day moving average price of $77.20 and a 200-day moving average price of $78.83. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $88.07. The firm has a market capitalization of $41.89 billion, a PE ratio of 14.40, a P/E/G ratio of 0.59 and a beta of 0.58.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The company had revenue of $6.55 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, equities research analysts expect that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, March 16th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. American International Group’s payout ratio is currently 33.21%.

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.