Diamond Hill Capital Management Inc. Increases Stake in American International Group, Inc. $AIG

Diamond Hill Capital Management Inc. raised its holdings in American International Group, Inc. (NYSE:AIG) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,111,405 shares of the insurance provider’s stock after acquiring an additional 499,330 shares during the period. American International Group makes up 4.5% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its largest position. Diamond Hill Capital Management Inc. owned about 2.19% of American International Group worth $951,230,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. MCF Advisors LLC raised its holdings in shares of American International Group by 24.4% during the 3rd quarter. MCF Advisors LLC now owns 6,319 shares of the insurance provider’s stock valued at $496,000 after buying an additional 1,241 shares in the last quarter. Smartleaf Asset Management LLC grew its position in American International Group by 68.3% during the third quarter. Smartleaf Asset Management LLC now owns 7,940 shares of the insurance provider’s stock valued at $619,000 after acquiring an additional 3,222 shares during the last quarter. a16z Perennial Management L.P. purchased a new position in shares of American International Group during the third quarter worth approximately $252,000. Ledyard National Bank purchased a new position in shares of American International Group during the third quarter worth approximately $2,277,000. Finally, Portside Wealth Group LLC lifted its holdings in shares of American International Group by 2.0% in the 3rd quarter. Portside Wealth Group LLC now owns 15,540 shares of the insurance provider’s stock worth $1,221,000 after acquiring an additional 301 shares during the last quarter. 90.60% of the stock is owned by hedge funds and other institutional investors.

American International Group Price Performance

Shares of NYSE:AIG opened at $76.71 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a twelve month low of $71.25 and a twelve month high of $88.07. The stock has a market capitalization of $41.39 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.58 and a beta of 0.61. The firm’s 50 day moving average price is $78.87 and its 200-day moving average price is $78.91.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Barclays reduced their price objective on American International Group from $88.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 8th. Piper Sandler raised their target price on shares of American International Group from $88.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, December 22nd. Cantor Fitzgerald lowered their target price on American International Group from $80.00 to $77.00 and set a “neutral” rating for the company in a research note on Wednesday, January 14th. HSBC lowered their price target 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. Finally, Wells Fargo & Company boosted their target price on American International Group from $83.00 to $85.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, American International Group currently has a consensus rating of “Hold” and a consensus price target of $87.42.

American International Group 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.