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

Franklin Resources Inc. increased its stake in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 5.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,162,465 shares of the insurance provider's stock after purchasing an additional 457,821 shares during the quarter. Franklin Resources Inc. owned 1.47% of American International Group worth $713,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AIG. Christopher J. Hasenberg Inc purchased a new stake in shares of American International Group in the third quarter worth approximately $26,000. Y.D. More Investments Ltd purchased a new stake in American International Group in the second quarter worth $27,000. True Wealth Design LLC bought a new stake in shares of American International Group during the third quarter worth $29,000. Continuum Advisory LLC lifted its position in shares of American International Group by 60.7% during the third quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider's stock worth $42,000 after purchasing an additional 207 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of American International Group during the third quarter valued at $46,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on AIG. JPMorgan Chase & Co. raised shares of American International Group from a "neutral" rating to an "overweight" rating and lowered their price objective for the company from $93.00 to $89.00 in a research report on Thursday, October 10th. Jefferies Financial Group raised their price objective on American International Group from $82.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. StockNews.com upgraded American International Group from a "sell" rating to a "hold" rating in a report on Friday, November 8th. UBS Group raised their target price on shares of American International Group from $84.00 to $88.00 and gave the company a "buy" rating in a research report on Tuesday, October 15th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of American International Group from $88.00 to $87.00 and set an "outperform" rating for the company in a research report on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $84.80.

American International Group Stock Performance

Shares of NYSE AIG traded up $0.41 during mid-day trading on Friday, hitting $72.87. The stock had a trading volume of 3,612,991 shares, compared to its average volume of 4,105,514. The firm has a market cap of $45.45 billion, a PE ratio of -21.49, a PEG ratio of 7.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.65 and a current ratio of 0.65. The company has a 50 day moving average of $76.03 and a two-hundred day moving average of $75.21. American International Group, Inc. has a twelve month low of $65.69 and a twelve month high of $80.83.

American International Group (NYSE:AIG - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.13. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same period in the prior year, the company earned $1.61 earnings per share. Research analysts predict that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Monday, December 16th. American International Group's dividend payout ratio (DPR) is currently -47.20%.

Insider Transactions at American International Group

In other American International Group news, major shareholder International Group American sold 5,000,000 shares of the company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total value of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.61% of the company's stock.

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.