Synovus Financial Corp Buys 2,603 Shares of American International Group, Inc. (NYSE:AIG)

Synovus Financial Corp raised its position in shares of American International Group, Inc. (NYSE:AIG) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,684 shares of the insurance provider’s stock after acquiring an additional 2,603 shares during the quarter. Synovus Financial Corp’s holdings in American International Group were worth $3,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in shares of American International Group during the third quarter valued at approximately $26,000. Y.D. More Investments Ltd bought a new stake in shares of American International Group during the 2nd quarter valued at $27,000. True Wealth Design LLC purchased a new stake in shares of American International Group in the 3rd quarter worth about $29,000. Continuum Advisory LLC increased its stake in shares of American International Group by 60.7% in the 3rd quarter. Continuum Advisory LLC now owns 548 shares of the insurance provider’s stock worth $42,000 after acquiring an additional 207 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in American International Group during the 3rd quarter valued at about $46,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AIG shares. Bank of America raised their target price on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. BMO Capital Markets cut American International Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $90.00 to $84.00 in a research note on Tuesday, October 15th. StockNews.com raised American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Evercore ISI lowered their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating for the company in a research report on Wednesday, October 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $87.00 price objective on shares of American International Group in a research report on Wednesday, November 6th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

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 dated 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 completion of the sale, the insider now owns 279,238,898 shares in the company, valued at $8,058,834,596.28. This represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $72.87 on Friday. The firm has a market capitalization of $45.45 billion, a P/E ratio of -21.50, a PEG ratio of 7.30 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a one year low of $65.69 and a one year high of $80.83. The business has a fifty day moving average of $76.03 and a 200 day moving average of $75.20.

American International Group (NYSE:AIG) last released its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.62 billion. During the same period in the previous year, the company posted $1.61 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a $0.40 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.60 annualized dividend and a yield of 2.20%. American International Group’s payout ratio is presently -47.20%.

About American International Group

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.