Zurcher Kantonalbank Zurich Cantonalbank Has $17.11 Million Holdings in American International Group, Inc. (NYSE:AIG)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in American International Group, Inc. (NYSE:AIG) by 8.3% in the fourth quarter, HoldingsChannel reports. The fund owned 252,567 shares of the insurance provider’s stock after acquiring an additional 19,339 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in American International Group were worth $17,111,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. LifePlan Financial LLC bought a new position in shares of American International Group in the fourth quarter worth about $875,000. Carnegie Capital Asset Management LLC raised its stake in shares of American International Group by 18.8% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 5,685 shares of the insurance provider’s stock worth $385,000 after acquiring an additional 900 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of American International Group in the fourth quarter worth about $372,000. Louisiana State Employees Retirement System bought a new position in shares of American International Group in the fourth quarter worth about $2,873,000. Finally, Crestwood Advisors Group LLC raised its stake in shares of American International Group by 8.2% in the fourth quarter. Crestwood Advisors Group LLC now owns 3,643 shares of the insurance provider’s stock worth $247,000 after acquiring an additional 277 shares during the last quarter. 90.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AIG. Wells Fargo & Company boosted their price target on shares of American International Group from $74.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Evercore ISI boosted their price target on shares of American International Group from $74.00 to $80.00 and gave the stock an “in-line” rating in a research note on Thursday, April 11th. Citigroup boosted their price target on shares of American International Group from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their price target on shares of American International Group from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 10th. Finally, TD Cowen started coverage on shares of American International Group in a report on Wednesday, January 10th. They set a “market perform” rating and a $78.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, American International Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.06.

American International Group Stock Up 0.6 %

Shares of AIG stock opened at $72.99 on Friday. The firm has a fifty day moving average of $74.10 and a 200-day moving average of $68.33. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.44. American International Group, Inc. has a 12-month low of $48.95 and a 12-month high of $78.95. The company has a market capitalization of $49.70 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 1.05 and a beta of 1.03.

American International Group (NYSE:AIG) last issued its quarterly earnings data on Wednesday, February 14th. The insurance provider reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.20. American International Group had a net margin of 7.78% and a return on equity of 10.68%. The company had revenue of $1.00 million during the quarter, compared to the consensus estimate of $11.61 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The firm’s revenue was up .0% compared to the same quarter last year. As a group, equities research analysts predict that American International Group, Inc. will post 7.05 earnings per share for the current fiscal year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend was Wednesday, March 13th. American International Group’s dividend payout ratio is 28.86%.

Insider Transactions at American International Group

In other American International Group news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other American International Group news, Director John C. Inglis bought 659 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $75.39 per share, with a total value of $49,682.01. Following the completion of the transaction, the director now owns 659 shares in the company, valued at $49,682.01. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Peter Zaffino sold 333,000 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $75.87, for a total transaction of $25,264,710.00. Following the completion of the transaction, the chief executive officer now directly owns 505,420 shares of the company’s stock, valued at approximately $38,346,215.40. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

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.