Diamond Hill Capital Management LLC Investment Advisor Takes Position in American International Group, Inc. $AIG

Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of American International Group, Inc. (NYSE:AIG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,232,910 shares of the insurance provider’s stock, valued at approximately $464,539,000. American International Group accounts for 3.7% of Diamond Hill Capital Management LLC Investment Advisor’s portfolio, making the stock its biggest holding. Diamond Hill Capital Management LLC Investment Advisor owned 1.18% of American International Group at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Modus Advisors LLC purchased a new position in shares of American International Group during the 4th quarter worth approximately $27,000. Navalign LLC purchased a new position in American International Group in the fourth quarter worth $29,000. Mcguire Capital Advisors Inc. acquired a new stake in American International Group in the fourth quarter valued at $29,000. SHP Wealth Management purchased a new stake in shares of American International Group during the 4th quarter worth $34,000. Finally, CENTRAL TRUST Co grew its stake in shares of American International Group by 48.7% during 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. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of American International Group from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 12th. Wells Fargo & Company lowered their price target on American International Group from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Monday, August 10th. Royal Bank Of Canada lifted their price objective on American International Group from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. 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. Finally, Piper Sandler boosted their price objective on shares of American International Group from $80.00 to $84.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $88.39.

American International Group Stock Down 0.1%

Shares of NYSE:AIG opened at $76.54 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $40.02 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.70 and a beta of 0.52. American International Group, Inc. has a 52-week low of $71.25 and a 52-week high of $87.29. The stock’s fifty day simple moving average is $77.57 and its 200-day simple moving average is $76.92.

American International Group (NYSE:AIG) last posted 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 during the quarter, compared to analysts’ expectations of $7.25 billion. American International Group had a return on equity of 11.05% and a net margin of 11.13%.During the same quarter last year, the business posted $1.81 EPS. As a group, equities research analysts forecast that American International Group, Inc. will post 8.02 earnings per share for the current fiscal year.

American International Group Announces Dividend

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

Insider Transactions at American International Group

In other American International Group news, insider Peter Zaffino sold 36,829 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $76.14, for a total value of $2,804,160.06. Following the completion of the transaction, the insider directly owned 556,004 shares in the company, valued at approximately $42,334,144.56. The trade was a 6.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.60% of the company’s stock.

About American International Group

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.