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

Franklin Resources Inc. decreased its holdings in American International Group, Inc. (NYSE:AIG) by 9.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,407,958 shares of the insurance provider’s stock after selling 1,128,186 shares during the quarter. Franklin Resources Inc. owned about 2.11% of American International Group worth $896,001,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in American International Group by 11.6% during the 3rd quarter. Vanguard Group Inc. now owns 68,482,752 shares of the insurance provider’s stock valued at $5,378,635,000 after purchasing an additional 7,117,583 shares during the period. Capital Research Global Investors lifted its position in shares of American International Group by 79.6% in the 3rd quarter. Capital Research Global Investors now owns 28,534,448 shares of the insurance provider’s stock worth $2,241,091,000 after purchasing an additional 12,645,616 shares during the period. Diamond Hill Capital Management Inc. lifted its position in shares of American International Group by 4.3% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,111,405 shares of the insurance provider’s stock worth $951,230,000 after purchasing an additional 499,330 shares during the period. Norges Bank purchased a new stake in shares of American International Group in the 2nd quarter worth about $787,724,000. Finally, Raymond James Financial Inc. boosted its stake in shares of American International Group by 4.4% during the 2nd quarter. Raymond James Financial Inc. now owns 3,429,324 shares of the insurance provider’s stock valued at $293,516,000 after purchasing an additional 143,361 shares in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Up 0.6%

Shares of American International Group stock opened at $78.07 on Wednesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company has a 50-day moving average of $77.20 and a 200 day moving average of $78.83. The firm has a market cap of $41.89 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.59 and a beta of 0.58. American International Group, Inc. has a 1 year low of $71.25 and a 1 year high of $88.07.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 10th. The insurance provider reported $1.96 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period last year, the company posted $1.30 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, March 16th. American International Group’s dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AIG. Evercore reduced their price target on shares of American International Group from $90.00 to $85.00 in a research report on Friday, January 23rd. UBS Group lowered their price objective on shares of American International Group from $94.00 to $92.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. The Goldman Sachs Group raised American International Group from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Thursday, March 5th. Jefferies Financial Group upped their target price on American International Group from $96.00 to $101.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of American International Group in a research report on Monday, December 29th. One research 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. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $87.95.

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.