Do You Think That American International Group (AIG) is a Long-Term Bet?

Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -5.23% net of fees compared to a -4.61% return for the Russell 1000 Index. Holdings in the technology and consumer discretionary sectors led to the underperformance of the strategy in the quarter. In contrast, stock selection in energy, consumer staples, and materials sectors positively contributed to the strategy’s performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill Capital discussed stocks like American International Group, Inc. (NYSE:AIG) in the Q3 2022 investor letter. Headquartered in New York, New York, American International Group, Inc. (NYSE:AIG) is a global insurance company. On October 25, 2022, American International Group, Inc. (NYSE:AIG) stock closed at $54.29 per share. One-month return of American International Group, Inc. (NYSE:AIG) was 11.32% and its shares lost 7.28% of their value over the last 52 weeks. American International Group, Inc. (NYSE:AIG) has a market capitalization of $41.283 billion.

Diamond Hill Capital made the following comment about American International Group, Inc. (NYSE:AIG) in its Q3 2022 investor letter:

“Also among our bottom contributors were health care products manufacturer Abbott Labs, global pharmaceutical company Pfizer, media and technology giant Alphabet, and insurance company American International Group, Inc. (NYSE:AIG).

AIG reported strong Q2 earnings, but volatile capital markets led to delays in the IPO of the company’s life and retirement business and concerns about the quality of the company’s investment portfolio. We continue to believe AIG has one of the best management teams in the industry, and they’ve been executing well on turning the business around and improving underwriting and expense control.”

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American International Group, Inc. (NYSE:AIG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held American International Group, Inc. (NYSE:AIG) at the end of the second quarter which was 34 in the previous quarter.

We discussed American International Group, Inc. (NYSE:AIG) in another article and shared the list of blue chip stocks to buy according to billionaire Andreas Halvorsen. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.