Zurcher Kantonalbank Zurich Cantonalbank Acquires 7,278 Shares of American International Group, Inc. (NYSE:AIG)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in American International Group, Inc. (NYSE:AIG) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 261,750 shares of the insurance provider’s stock after purchasing an additional 7,278 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American International Group were worth $19,055,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Atlanta Consulting Group Advisors LLC bought a new stake in shares of American International Group in the third quarter valued at approximately $494,000. Artemis Investment Management LLP raised its holdings in American International Group by 115.9% in the 4th quarter. Artemis Investment Management LLP now owns 274,246 shares of the insurance provider’s stock valued at $19,965,000 after acquiring an additional 147,235 shares in the last quarter. Beacon Investment Advisory Services Inc. lifted its position in shares of American International Group by 5.2% during the 4th quarter. Beacon Investment Advisory Services Inc. now owns 70,816 shares of the insurance provider’s stock valued at $5,155,000 after acquiring an additional 3,490 shares during the period. Merit Financial Group LLC acquired a new stake in shares of American International Group during the 4th quarter worth $1,260,000. Finally, Williams & Novak LLC bought a new position in shares of American International Group in the fourth quarter worth $279,000. Institutional investors and hedge funds own 90.60% of the company’s stock.

Insider Activity at American International Group

In other news, Director John G. Rice bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were acquired at an average price of $77.00 per share, for a total transaction of $770,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $770,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

American International Group Price Performance

Shares of NYSE:AIG opened at $81.66 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.67 and a current ratio of 0.67. American International Group, Inc. has a 52 week low of $69.00 and a 52 week high of $83.77. The firm has a market cap of $48.45 billion, a PE ratio of -39.26, a price-to-earnings-growth ratio of 1.01 and a beta of 0.98. The firm’s fifty day moving average is $75.71 and its 200-day moving average is $75.16.

American International Group (NYSE:AIG) last announced its earnings results on Tuesday, February 11th. The insurance provider reported $1.30 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.03). American International Group had a positive return on equity of 8.01% and a negative net margin of 4.25%. Sell-side analysts predict that American International Group, Inc. will post 6.24 earnings per share for the current year.

American International Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, March 17th. American International Group’s dividend payout ratio is currently -76.92%.

Analysts Set New Price Targets

AIG has been the subject of several recent analyst reports. Morgan Stanley upped their price objective on shares of American International Group from $75.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. The Goldman Sachs Group reissued a “neutral” rating and set a $79.00 price target (down previously from $83.00) on shares of American International Group in a report on Wednesday, January 8th. UBS Group reduced their price objective on American International Group from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. HSBC raised American International Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research note on Wednesday, March 5th. Finally, JPMorgan Chase & Co. reduced their price target on shares of American International Group from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

About American International Group

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.