American International Group, Inc. (NYSE:AIG) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp raised its stake in American International Group, Inc. (NYSE:AIG) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,049 shares of the insurance provider’s stock after acquiring an additional 2,365 shares during the quarter. Synovus Financial Corp’s holdings in American International Group were worth $3,280,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AIG. Wellington Management Group LLP raised its stake in American International Group by 7.2% in the 4th quarter. Wellington Management Group LLP now owns 26,805,310 shares of the insurance provider’s stock valued at $1,951,427,000 after purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of American International Group by 3.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 14,147,050 shares of the insurance provider’s stock worth $1,029,905,000 after buying an additional 461,912 shares in the last quarter. Franklin Resources Inc. raised its position in shares of American International Group by 14.0% in the fourth quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock valued at $760,528,000 after buying an additional 1,284,354 shares during the last quarter. Norges Bank purchased a new position in shares of American International Group during the fourth quarter valued at approximately $718,013,000. Finally, Bank of New York Mellon Corp boosted its position in American International Group by 3.9% during the fourth quarter. Bank of New York Mellon Corp now owns 9,310,790 shares of the insurance provider’s stock worth $677,825,000 after acquiring an additional 347,982 shares during the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other American International Group news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction dated Thursday, February 13th. The shares were acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at $770,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

American International Group Stock Down 0.5 %

Shares of American International Group stock opened at $81.52 on Tuesday. American International Group, Inc. has a twelve month low of $69.00 and a twelve month high of $88.07. The stock has a market cap of $48.54 billion, a price-to-earnings ratio of -39.19, a price-to-earnings-growth ratio of 1.01 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.21. The company has a fifty day moving average price of $80.57 and a 200 day moving average price of $76.75.

American International Group (NYSE:AIG) last issued its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share 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%. Equities research analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, March 17th. American International Group’s dividend payout ratio (DPR) is -76.92%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AIG shares. 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. Morgan Stanley upped their target price on American International Group from $76.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, April 4th. Wells Fargo & Company decreased their price target on American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of American International Group to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods cut their price objective on shares of American International Group from $98.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Nine research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.65.

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.