Diamond Hill Capital Management Inc. Boosts Stock Position in American International Group, Inc. (NYSE:AIG)

Diamond Hill Capital Management Inc. increased its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 5.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 13,685,138 shares of the insurance provider's stock after buying an additional 722,237 shares during the quarter. American International Group accounts for approximately 4.1% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its largest holding. Diamond Hill Capital Management Inc. owned 2.13% of American International Group worth $1,002,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of American International Group by 20.9% in the 1st quarter. Empowered Funds LLC now owns 10,871 shares of the insurance provider's stock worth $850,000 after purchasing an additional 1,877 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of American International Group by 8.3% in the 1st quarter. Atomi Financial Group Inc. now owns 8,016 shares of the insurance provider's stock valued at $627,000 after acquiring an additional 612 shares during the period. NorthRock Partners LLC increased its holdings in American International Group by 30.7% in the first quarter. NorthRock Partners LLC now owns 8,616 shares of the insurance provider's stock valued at $674,000 after buying an additional 2,026 shares in the last quarter. Meeder Advisory Services Inc. boosted its holdings in American International Group by 7.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 14,733 shares of the insurance provider's stock worth $1,152,000 after buying an additional 1,069 shares during the last quarter. Finally, Qsemble Capital Management LP raised its position in shares of American International Group by 51.0% in the first quarter. Qsemble Capital Management LP now owns 16,801 shares of the insurance provider's stock valued at $1,313,000 after buying an additional 5,677 shares during the last quarter. 90.60% of the stock is currently owned by institutional investors.

American International Group Stock Performance

Shares of AIG traded up $0.45 during mid-day trading on Monday, reaching $76.03. The company's stock had a trading volume of 1,556,079 shares, compared to its average volume of 4,110,461. American International Group, Inc. has a 1-year low of $63.35 and a 1-year high of $80.83. The stock has a market cap of $48.96 billion, a P/E ratio of -22.29, a PEG ratio of 7.65 and a beta of 1.05. The business has a 50-day simple moving average of $75.15 and a two-hundred day simple moving average of $75.67. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.22.

American International Group (NYSE:AIG - Get Free Report) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating analysts' consensus estimates of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.62 billion. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.49%. During the same quarter last year, the business posted $1.61 earnings per share. As a group, equities research analysts anticipate that American International Group, Inc. will post 5.11 earnings per share for the current fiscal year.

American International Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date is Monday, December 16th. American International Group's payout ratio is currently -47.20%.

Insider Transactions at American International Group

In other news, major shareholder International Group American sold 5,000,000 shares of the firm's stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total value of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares in the company, valued at approximately $8,058,834,596.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. TD Cowen decreased their price objective on shares of American International Group from $83.00 to $80.00 and set a "hold" rating for the company in a research report on Tuesday, August 13th. Barclays initiated coverage on shares of American International Group in a report on Wednesday, September 4th. They set an "overweight" rating and a $90.00 price target for the company. Wells Fargo & Company dropped their target price on shares of American International Group from $77.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, November 6th. Keefe, Bruyette & Woods lowered their price target on American International Group from $96.00 to $90.00 and set an "outperform" rating on the stock in a report on Monday, August 12th. Finally, Piper Sandler lowered their price objective on shares of American International Group from $89.00 to $86.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $84.31.

American International Group Company Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers' compensation, excess casualty, and crisis management insurance products; and professional liability insurance.