Diamond Hill Capital Management Inc. Has $951.23 Million Holdings in American International Group, Inc. $AIG

Diamond Hill Capital Management Inc. lifted its holdings in American International Group, Inc. (NYSE:AIG) by 4.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,111,405 shares of the insurance provider’s stock after acquiring an additional 499,330 shares during the period. American International Group accounts for about 4.5% of Diamond Hill Capital Management Inc.’s portfolio, making the stock its biggest holding. Diamond Hill Capital Management Inc.’s holdings in American International Group were worth $951,230,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of American International Group during the second quarter valued at about $787,724,000. Viking Global Investors LP bought a new position in shares of American International Group during the 2nd quarter valued at approximately $155,413,000. Franklin Resources Inc. grew its holdings in shares of American International Group by 6.1% in the second quarter. Franklin Resources Inc. now owns 12,536,144 shares of the insurance provider’s stock valued at $1,072,969,000 after purchasing an additional 716,209 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of American International Group by 21.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,341,348 shares of the insurance provider’s stock valued at $285,986,000 after purchasing an additional 600,629 shares in the last quarter. Finally, HRT Financial LP increased its position in American International Group by 117.8% in the second quarter. HRT Financial LP now owns 1,109,634 shares of the insurance provider’s stock worth $94,973,000 after purchasing an additional 600,061 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Up 1.0%

NYSE:AIG opened at $76.71 on Friday. The company has a market cap of $41.39 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.58 and a beta of 0.61. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $88.07. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.22. The stock has a fifty day simple moving average of $78.87 and a 200-day simple moving average of $78.91.

Analyst Upgrades and Downgrades

Several research firms have commented on AIG. HSBC lowered their price objective on shares of American International Group from $91.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, January 16th. Jefferies Financial Group increased their price target on shares of American International Group from $96.00 to $101.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. The Goldman Sachs Group lifted their price target on American International Group from $81.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Piper Sandler upped their price objective on American International Group from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, December 22nd. Finally, Wells Fargo & Company raised their price objective on American International Group from $83.00 to $85.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat, American International Group has an average rating of “Hold” and a consensus price target of $87.42.

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.