American International Group, Inc. $AIG Stock Position Lowered by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its stake in American International Group, Inc. (NYSE:AIG) by 10.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,817,462 shares of the insurance provider’s stock after selling 1,293,943 shares during the period. American International Group makes up approximately 4.7% of Diamond Hill Capital Management Inc.’s holdings, making the stock its largest holding. Diamond Hill Capital Management Inc.’s holdings in American International Group were worth $925,434,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AIG. Brighton Jones LLC purchased a new position in shares of American International Group in the fourth quarter worth about $1,091,000. Sivia Capital Partners LLC increased its holdings in shares of American International Group by 30.7% in the second quarter. Sivia Capital Partners LLC now owns 5,050 shares of the insurance provider’s stock worth $432,000 after buying an additional 1,185 shares during the period. Flow Traders U.S. LLC purchased a new position in shares of American International Group in the second quarter worth about $217,000. Ieq Capital LLC increased its holdings in shares of American International Group by 11.5% in the second quarter. Ieq Capital LLC now owns 244,871 shares of the insurance provider’s stock worth $20,958,000 after buying an additional 25,311 shares during the period. Finally, HUB Investment Partners LLC purchased a new position in shares of American International Group in the second quarter worth about $269,000. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Stock Performance

Shares of AIG opened at $78.68 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $76.19 and its 200-day moving average price is $77.65. American International Group, Inc. has a 52 week low of $71.25 and a 52 week high of $87.46. The stock has a market cap of $41.72 billion, a P/E ratio of 13.88, a P/E/G ratio of 0.74 and a beta of 0.53.

American International Group (NYSE:AIG) last issued its quarterly earnings results on Friday, May 1st. The insurance provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.22. American International Group had a return on equity of 10.93% and a net margin of 11.86%.The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.03 billion. During the same period in the previous year, the firm posted $1.17 EPS. Equities research analysts anticipate that American International Group, Inc. will post 7.97 earnings per share for the current fiscal year.

American International Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from American International Group’s previous quarterly dividend of $0.45. American International Group’s payout ratio is presently 31.75%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on AIG shares. Wells Fargo & Company decreased their price objective on American International Group from $86.00 to $85.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 6th. Bank of America reduced their price target on American International Group from $80.00 to $79.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. The Goldman Sachs Group boosted their price target on American International Group from $87.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Morgan Stanley reduced their price target on American International Group from $83.00 to $82.00 and set an “equal weight” rating on the stock in a report on Monday, April 6th. Finally, Keefe, Bruyette & Woods boosted their price target on American International Group from $97.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, American International Group presently has a consensus rating of “Hold” and an average target price of $88.06.

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.