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

Synovus Financial Corp grew its stake in shares of American International Group, Inc. (NYSE:AIG) by 5.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 45,049 shares of the insurance provider’s stock after purchasing an additional 2,365 shares during the quarter. Synovus Financial Corp’s holdings in American International Group were worth $3,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AIG. Wellington Management Group LLP lifted its position in shares of American International Group by 7.2% during 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 purchasing an additional 1,791,964 shares during the last quarter. Diamond Hill Capital Management Inc. raised its stake in 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 valued at $1,029,905,000 after buying an additional 461,912 shares in the last quarter. Franklin Resources Inc. lifted its holdings in American International Group by 14.0% during the 4th quarter. Franklin Resources Inc. now owns 10,446,819 shares of the insurance provider’s stock worth $760,528,000 after buying an additional 1,284,354 shares during the last quarter. Norges Bank bought a new position in American International Group during the 4th quarter worth approximately $718,013,000. Finally, Bank of New York Mellon Corp grew its position in shares of American International Group by 3.9% in the 4th 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 in the last quarter. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

AIG opened at $81.52 on Tuesday. American International Group, Inc. has a 1-year low of $69.00 and a 1-year high of $88.07. The company has a market capitalization 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 business has a 50 day moving average price of $80.57 and a two-hundred day moving average price of $76.75. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.67 and a quick ratio of 0.67.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Tuesday, February 11th. The insurance provider reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.03). American International Group had a negative net margin of 4.25% and a positive return on equity of 8.01%. Research analysts predict that American International Group, Inc. will post 6.24 EPS for the current fiscal year.

American International Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, March 17th. American International Group’s payout ratio is -76.92%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AIG shares. BMO Capital Markets upped their price target on American International Group from $75.00 to $83.00 and gave the company a “market perform” rating in a research report on Thursday, March 13th. Keefe, Bruyette & Woods reduced their price target on shares of American International Group from $98.00 to $94.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price target on shares of American International Group from $98.00 to $92.00 and set an “overweight” rating for the company in a report on Friday. Morgan Stanley increased their price objective on shares of American International Group from $76.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, April 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on American International Group to $91.00 and gave the company a “buy” rating in a research note on Wednesday, April 2nd. Nine investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.65.

Insiders Place Their Bets

In related news, Director John G. Rice bought 10,000 shares of American International Group stock in a transaction dated Thursday, February 13th. The stock was acquired at an average cost of $77.00 per share, with a total value of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by company 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.