Diamond Hill Capital, an investment management company, released its “Large Cap Strategy” first-quarter 2024 investor letter. A copy of the letter can be downloaded here. Markets rose significantly in the first quarter of 2024, providing positive returns across most regions and countries. The strategy outperformed the Russell 1000 Index in Q1 and returned 10.64% (net) vs 10.30% for the index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
Diamond Hill Large Cap Strategy highlighted stocks like American International Group, Inc. (NYSE:AIG) in the first quarter 2024 investor letter. American International Group, Inc. (NYSE:AIG) is an insurance products provider for commercial, institutional, and individual customers. American International Group, Inc. (NYSE:AIG) one-month return was -2.44%, and its shares gained 40.03% of their value over the last 52 weeks. On June 3, 2024, American International Group, Inc. (NYSE:AIG) stock closed at $78.32 per share with a market capitalization of $51.978 billion.
Diamond Hill Large Cap Strategy stated the following regarding American International Group, Inc. (NYSE:AIG) in its first quarter 2024 investor letter:
“Among our top individual contributors in Q1 were American International Group, Inc. (NYSE:AIG) and HCA Healthcare. Property and casualty insurance company AIG made more progress selling its stake in life insurer Corebridge in the quarter while repositioning its portfolio via several divestitures — lending support to our thesis that the high-quality management team will continue executing a turnaround in the business.”
A professional advisor helping a client with an insurance policy, highlighting the company’s attention to customer service.
American International Group, Inc. (NYSE:AIG) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held American International Group, Inc. (NYSE:AIG) at the end of the first quarter which was 51 in the previous quarter.
American International Group, Inc. (NYSE:AIG) reported adjusted after-tax income of $1.2 billion for the quarter, or $1.77 per diluted common share, a 9% increase in earnings per share compared to the prior year’s quarter.
In another article, we discussed American International Group, Inc. (NYSE:AIG) and shared the list of best dividend stocks that are undervalued and have just raised their payouts. American International Group, Inc. (NYSE:AIG) was Diamond Hill Large Cap Strategy’s one of the top contributors in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 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.
