Diamond Hill Capital Management Inc. Sells 1,813,674 Shares of American International Group, Inc. (NYSE:AIG)

Diamond Hill Capital Management Inc. reduced its position in shares of American International Group, Inc. (NYSE:AIG - Free Report) by 12.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,333,376 shares of the insurance provider's stock after selling 1,813,674 shares during the quarter. American International Group comprises about 4.9% of Diamond Hill Capital Management Inc.'s portfolio, making the stock its biggest position. Diamond Hill Capital Management Inc. owned 2.07% of American International Group worth $1,072,264,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Associates Ltd. boosted its position in American International Group by 1.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,706 shares of the insurance provider's stock valued at $670,000 after acquiring an additional 122 shares in the last quarter. Miracle Mile Advisors LLC boosted its position in American International Group by 1.6% during the 1st quarter. Miracle Mile Advisors LLC now owns 8,094 shares of the insurance provider's stock valued at $704,000 after acquiring an additional 124 shares in the last quarter. Western Pacific Wealth Management LP boosted its position in American International Group by 2.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,673 shares of the insurance provider's stock valued at $493,000 after acquiring an additional 125 shares in the last quarter. Montag A & Associates Inc. boosted its position in American International Group by 0.7% during the 1st quarter. Montag A & Associates Inc. now owns 17,788 shares of the insurance provider's stock valued at $1,546,000 after acquiring an additional 130 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of American International Group by 2.4% in the 1st quarter. Checchi Capital Advisers LLC now owns 5,610 shares of the insurance provider's stock worth $488,000 after purchasing an additional 132 shares in the last quarter. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AIG shares. Morgan Stanley raised their price objective on American International Group from $81.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of American International Group to $91.00 and gave the company a "buy" rating in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. restated a "neutral" rating and set a $91.00 price target (up previously from $83.00) on shares of American International Group in a research note on Tuesday, April 8th. The Goldman Sachs Group upped their price target on shares of American International Group from $79.00 to $87.00 and gave the company a "neutral" rating in a research note on Tuesday, April 1st. Finally, Evercore ISI lifted their price target on American International Group from $81.00 to $89.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, American International Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.19.

Insider Transactions at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $83.26, for a total transaction of $3,845,113.32. Following the transaction, the executive vice president directly owned 21,400 shares in the company, valued at $1,781,764. The trade was a 68.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.50% of the company's stock.

American International Group Price Performance

Shares of American International Group stock traded up $0.89 on Friday, hitting $80.12. The company's stock had a trading volume of 4,476,835 shares, compared to its average volume of 4,154,542. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.64 and a current ratio of 0.64. American International Group, Inc. has a 1 year low of $69.00 and a 1 year high of $88.07. The firm has a fifty day moving average price of $83.43 and a 200-day moving average price of $80.81. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of -30.12, a price-to-earnings-growth ratio of 0.87 and a beta of 0.63.

American International Group (NYSE:AIG - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The insurance provider reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.13. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.89 billion. During the same period in the previous year, the firm posted $1.25 EPS. As a group, sell-side analysts anticipate that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

American International Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.25%. This is a boost from American International Group's previous quarterly dividend of $0.40. The ex-dividend date was Friday, June 13th. American International Group's payout ratio is presently -67.67%.

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.