Zurcher Kantonalbank Zurich Cantonalbank Sells 1,909 Shares of American International Group, Inc. (NYSE:AIG)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of American International Group, Inc. (NYSE:AIG) by 0.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 254,472 shares of the insurance provider’s stock after selling 1,909 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American International Group were worth $18,635,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. B. Riley Wealth Advisors Inc. increased its holdings in American International Group by 14.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 13,133 shares of the insurance provider’s stock worth $1,027,000 after acquiring an additional 1,675 shares in the last quarter. Atria Investments Inc increased its stake in shares of American International Group by 4.1% in the first quarter. Atria Investments Inc now owns 45,731 shares of the insurance provider’s stock worth $3,574,000 after purchasing an additional 1,788 shares in the last quarter. Cetera Investment Advisers raised its position in shares of American International Group by 348.6% during the 1st quarter. Cetera Investment Advisers now owns 57,648 shares of the insurance provider’s stock valued at $4,506,000 after purchasing an additional 44,797 shares during the period. Cetera Advisors LLC lifted its stake in shares of American International Group by 80.9% during the 1st quarter. Cetera Advisors LLC now owns 9,224 shares of the insurance provider’s stock valued at $721,000 after buying an additional 4,124 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in American International Group by 8.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 142,369 shares of the insurance provider’s stock worth $11,081,000 after buying an additional 10,581 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

American International Group Trading Down 0.3 %

AIG opened at $76.88 on Friday. The stock has a 50-day moving average of $75.82 and a 200 day moving average of $75.51. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12 month low of $64.81 and a 12 month high of $80.83. The firm has a market cap of $47.96 billion, a P/E ratio of -22.68, a P/E/G ratio of 7.65 and a beta of 1.05.

American International Group (NYSE:AIG) last released its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.13. The firm had revenue of $6.75 billion for the quarter, compared to the consensus estimate of $6.62 billion. American International Group had a positive return on equity of 8.63% and a negative net margin of 6.19%. During the same quarter in the previous year, the company posted $1.61 EPS. As a group, research analysts forecast that American International Group, Inc. will post 5.12 EPS for the current year.

American International Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 16th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Insider Transactions at American International Group

In related news, major shareholder International Group American sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the sale, the insider now directly owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AIG. Evercore ISI decreased their price target on American International Group from $79.00 to $78.00 and set an “in-line” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company lowered their price target on American International Group from $77.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 6th. Jefferies Financial Group increased their price objective on shares of American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. TD Cowen lowered their target price on shares of American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Finally, StockNews.com raised shares of American International Group from a “sell” rating to a “hold” rating in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American International Group has a consensus rating of “Moderate Buy” and an average target price of $84.80.

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.