Freestone Grove Partners LP Has $143.54 Million Stake in American International Group, Inc. $AIG

Freestone Grove Partners LP grew its position in American International Group, Inc. (NYSE:AIG) by 51.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,925,980 shares of the insurance provider’s stock after purchasing an additional 655,065 shares during the quarter. American International Group makes up approximately 0.9% of Freestone Grove Partners LP’s portfolio, making the stock its 7th largest holding. Freestone Grove Partners LP owned 0.37% of American International Group worth $143,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of AIG. Price T Rowe Associates Inc. MD boosted its holdings in shares of American International Group by 39.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,371,853 shares of the insurance provider’s stock worth $1,400,613,000 after buying an additional 4,661,246 shares during the period. Franklin Resources Inc. raised its holdings in American International Group by 36.9% in the 4th quarter. Franklin Resources Inc. now owns 15,618,321 shares of the insurance provider’s stock worth $1,336,147,000 after acquiring an additional 4,210,363 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in American International Group by 22.0% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 10,256,290 shares of the insurance provider’s stock worth $805,529,000 after acquiring an additional 1,846,979 shares during the period. Bank of New York Mellon Corp lifted its position in American International Group by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 8,237,375 shares of the insurance provider’s stock worth $619,862,000 after acquiring an additional 474,035 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in American International Group by 10.8% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,482,558 shares of the insurance provider’s stock worth $640,133,000 after acquiring an additional 731,802 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors and hedge funds.

American International Group Price Performance

Shares of American International Group stock opened at $77.04 on Thursday. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $40.28 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The firm has a fifty day moving average price of $77.82 and a two-hundred day moving average price of $77.01. American International Group, Inc. has a fifty-two week low of $71.25 and a fifty-two week high of $87.29.

American International Group (NYSE:AIG) last posted its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.92 by $0.08. The company had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. American International Group had a net margin of 11.13% and a return on equity of 11.05%. During the same quarter in the previous year, the firm posted $1.81 EPS. Analysts expect that American International Group, Inc. will post 8.02 EPS for the current year.

American International Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.00 annualized dividend and a yield of 2.6%. American International Group’s dividend payout ratio is 36.56%.

Wall Street Analyst Weigh In

AIG has been the topic of several research analyst reports. Citigroup raised their price target on American International Group from $85.00 to $88.00 and gave the company a “neutral” rating in a research report on Monday, May 4th. BMO Capital Markets boosted their price objective on American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. The Goldman Sachs Group increased their target price on American International Group from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. JPMorgan Chase & Co. raised their target price on American International Group from $86.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price target on American International Group from $95.00 to $96.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $88.28.

Insider Buying and Selling

In other American International Group news, insider Peter Zaffino sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $76.47, for a total value of $15,294,000.00. Following the completion of the sale, the insider owned 592,833 shares in the company, valued at approximately $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.60% of the stock is currently owned by company insiders.

American International Group 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.