Diamond Hill Capital Management LLC Investment Advisor Invests $464.54 Million in American International Group, Inc. $AIG

Diamond Hill Capital Management LLC Investment Advisor bought a new position in American International Group, Inc. (NYSE:AIG) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,232,910 shares of the insurance provider’s stock, valued at approximately $464,539,000. American International Group comprises approximately 3.7% of Diamond Hill Capital Management LLC Investment Advisor’s portfolio, making the stock its largest position.

Other institutional investors have also recently bought and sold shares of the company. Modus Advisors LLC purchased a new position in American International Group during the fourth quarter worth approximately $27,000. Navalign LLC purchased a new stake in American International Group during the fourth quarter valued at about $29,000. Mcguire Capital Advisors Inc. acquired a new stake in American International Group during the fourth quarter worth about $29,000. SHP Wealth Management acquired a new stake in American International Group during the fourth quarter worth about $34,000. Finally, CENTRAL TRUST Co raised its holdings in shares of American International Group by 48.7% in the 1st quarter. CENTRAL TRUST Co now owns 461 shares of the insurance provider’s stock worth $35,000 after purchasing an additional 151 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction of $15,294,000.00. Following the completion of the sale, the insider owned 592,833 shares in the company, valued at $45,333,939.51. This trade represents a 25.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AIG. UBS Group boosted their target price on American International Group from $94.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. BMO Capital Markets lifted their price target on shares of American International Group from $83.00 to $89.00 in a research report on Thursday, May 7th. Mizuho boosted their price objective on shares of American International Group from $86.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of American International Group from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 2nd. Finally, Piper Sandler raised their target price on shares of American International Group from $80.00 to $84.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Seven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, American International Group has an average rating of “Hold” and an average price target of $88.39.

American International Group Stock Performance

American International Group stock opened at $76.54 on Monday. The firm has a market capitalization of $40.02 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 0.70 and a beta of 0.52. American International Group, Inc. has a one year low of $71.25 and a one year high of $87.29. The stock’s 50 day moving average price is $77.57 and its 200 day moving average price is $76.92. 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 (NYSE:AIG) last issued its quarterly earnings data on Thursday, August 6th. The insurance provider reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.92 by $0.08. The firm had revenue of $7.08 billion for the quarter, compared to analyst estimates 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 business posted $1.81 EPS. As a group, sell-side analysts expect that American International Group, Inc. will post 8.02 EPS for the current fiscal year.

American International Group Dividend Announcement

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

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.