Franklin Resources Inc. Has $1.34 Billion Position in American International Group, Inc. $AIG

Franklin Resources Inc. grew its holdings in American International Group, Inc. (NYSE:AIG) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund 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. owned about 2.89% of American International Group worth $1,336,147,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Modus Advisors LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $27,000. Atlantic Union Bankshares Corp grew its position in shares of American International Group by 7,100.0% in the third quarter. Atlantic Union Bankshares Corp now owns 360 shares of the insurance provider’s stock valued at $28,000 after purchasing an additional 355 shares during the last quarter. Navalign LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $29,000. Aventura Private Wealth LLC acquired a new stake in shares of American International Group in the fourth quarter valued at about $39,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of American International Group in the third quarter valued at about $39,000. 90.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AIG shares. BMO Capital Markets raised their price target on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. HSBC raised their price target on American International Group from $89.00 to $94.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Bank of America decreased their target price on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 14th. The Goldman Sachs Group lifted their target price on American International Group from $87.00 to $90.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Keefe, Bruyette & Woods lifted their target price on American International Group from $97.00 to $98.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $88.06.

American International Group Stock Up 0.0%

AIG stock opened at $75.51 on Monday. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.46. The company has a market cap of $40.03 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 0.69 and a beta of 0.52. The business’s 50-day simple moving average is $76.04 and its 200 day simple moving average is $77.44. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23.

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

American International Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.50 per share. This is a positive change from American International Group’s previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, June 15th. American International Group’s dividend payout ratio is 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.