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

Freestone Grove Partners LP increased its holdings in shares of American International Group, Inc. (NYSE:AIG) by 51.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,925,980 shares of the insurance provider’s stock after acquiring an additional 655,065 shares during the period. American International Group comprises about 0.9% of Freestone Grove Partners LP’s investment portfolio, making the stock its 7th biggest position. Freestone Grove Partners LP’s holdings in American International Group were worth $143,543,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Man Group plc lifted its stake in American International Group by 104.6% during the second quarter. Man Group plc now owns 3,612,368 shares of the insurance provider’s stock worth $269,230,000 after purchasing an additional 1,847,194 shares during the period. First Bancorp Inc ME bought a new stake in shares of American International Group in the 2nd quarter valued at approximately $30,000. Jupiter Topco LLC acquired a new position in shares of American International Group in the 2nd quarter worth approximately $5,174,000. Fiduciary Financial Advisors bought a new position in shares of American International Group during the 2nd quarter worth approximately $34,000. Finally, L2 Asset Management LLC lifted its position in shares of American International Group by 4.8% during the 2nd quarter. L2 Asset Management LLC now owns 3,046 shares of the insurance provider’s stock worth $227,000 after buying an additional 139 shares during the period. Institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of NYSE:AIG opened at $77.04 on Thursday. The business has a fifty day moving average of $77.82 and a 200-day moving average of $77.01. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.61 and a current ratio of 0.61. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $87.29. The firm 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.

American International Group (NYSE:AIG) last issued its quarterly earnings results 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. American International Group had a net margin of 11.13% and a return on equity of 11.05%. The business had revenue of $7.08 billion for the quarter, compared to the consensus estimate of $7.25 billion. During the same quarter in the prior year, the company earned $1.81 EPS. On average, equities research analysts predict that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Announces Dividend

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

Insider Buying and Selling at American International Group

In other news, insider Peter Zaffino sold 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $76.47, for a total transaction of $15,294,000.00. Following the transaction, the insider directly owned 592,833 shares in the company, valued at approximately $45,333,939.51. This represents a 25.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on AIG. UBS Group upped their price target on American International Group from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Barclays lifted their price objective on American International Group from $80.00 to $81.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. Wells Fargo & Company reduced their target price on shares of American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Monday, August 10th. Cantor Fitzgerald lowered their target price on shares of American International Group from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Monday, August 17th. Finally, Weiss Ratings upgraded shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $88.28.

American International Group Company 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.