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

Franklin Resources Inc. grew its stake in American International Group, Inc. (NYSE:AIG) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,446,819 shares of the insurance provider’s stock after buying an additional 1,284,354 shares during the period. Franklin Resources Inc. owned approximately 1.67% of American International Group worth $760,528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of American International Group by 7.2% in the fourth quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock worth $1,951,427,000 after buying an additional 1,791,964 shares during the period. Diamond Hill Capital Management Inc. boosted its stake in shares of American International Group by 3.4% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock valued at $1,029,905,000 after purchasing an additional 461,912 shares in the last quarter. Norges Bank purchased a new stake in American International Group in the fourth quarter worth $718,013,000. Bank of New York Mellon Corp lifted its position in American International Group by 3.9% during the 4th quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock valued at $677,825,000 after acquiring an additional 347,982 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of American International Group by 0.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 7,416,240 shares of the insurance provider’s stock valued at $543,091,000 after purchasing an additional 59,180 shares during the last quarter. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

AIG has been the subject of several research reports. JPMorgan Chase & Co. decreased their price objective on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating for the company in a report on Friday, January 3rd. HSBC raised shares of American International Group from a “hold” rating to a “buy” rating and set a $93.00 price objective for the company in a report on Wednesday, March 5th. UBS Group cut their price target on American International Group from $88.00 to $86.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Keefe, Bruyette & Woods increased their price target on shares of American International Group from $87.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $79.00 price objective (down from $83.00) on shares of American International Group in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.31.

American International Group Trading Down 1.0 %

AIG opened at $83.55 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.21. The firm has a market cap of $49.57 billion, a P/E ratio of -40.17, a P/E/G ratio of 1.01 and a beta of 0.98. The business has a fifty day simple moving average of $78.53 and a 200-day simple moving average of $75.96. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $85.11.

American International Group (NYSE:AIG) last posted its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. On average, equities analysts expect that American International Group, Inc. will post 6.24 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 Monday, March 31st. Investors of record on Monday, March 17th will be given a $0.40 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.60 dividend on an annualized basis and a yield of 1.92%. American International Group’s payout ratio is currently -76.92%.

Insider Buying and Selling

In other news, Director John G. Rice bought 10,000 shares of the stock in a transaction on Thursday, February 13th. The stock was purchased at an average cost of $77.00 per share, with a total value of $770,000.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $770,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by corporate insiders.

American International Group 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.