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

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in American International Group, Inc. (NYSE:AIG) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AIG. Diamond Hill Capital Management Inc. grew its stake in shares of American International Group by 5.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 13,685,138 shares of the insurance provider’s stock worth $1,002,163,000 after purchasing an additional 722,237 shares during the last quarter. Bank of Montreal Can grew its position in shares of American International Group by 83.6% in the 2nd quarter. Bank of Montreal Can now owns 1,312,741 shares of the insurance provider’s stock worth $97,825,000 after buying an additional 597,765 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of American International Group by 66.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,104,172 shares of the insurance provider’s stock valued at $80,858,000 after buying an additional 438,918 shares during the period. Marshall Wace LLP raised its holdings in shares of American International Group by 2,493.5% during the second quarter. Marshall Wace LLP now owns 349,341 shares of the insurance provider’s stock valued at $25,935,000 after acquiring an additional 335,871 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in American International Group by 41.5% in the third quarter. AustralianSuper Pty Ltd now owns 1,028,532 shares of the insurance provider’s stock worth $75,319,000 after acquiring an additional 301,637 shares during the period. Hedge funds and other institutional investors own 90.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AIG. Bank of America boosted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Jefferies Financial Group increased their price target on shares of American International Group from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays initiated coverage on shares of American International Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $90.00 price objective for the company. StockNews.com upgraded American International Group from a “sell” rating to a “hold” rating in a report on Friday, November 8th. Finally, Keefe, Bruyette & Woods lowered their target price on American International Group from $88.00 to $87.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, American International Group has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

American International Group Stock Performance

Shares of American International Group stock opened at $76.88 on Friday. The stock has a market cap of $47.96 billion, a price-to-earnings ratio of -22.68, a PEG ratio of 7.65 and a beta of 1.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.65 and a quick ratio of 0.65. American International Group, Inc. has a 1 year low of $64.81 and a 1 year high of $80.83. The firm’s 50-day moving average is $75.82 and its 200 day moving average is $75.51.

American International Group (NYSE:AIG) last issued its earnings results on Monday, November 4th. The insurance provider reported $1.23 earnings per share (EPS) for the quarter, topping 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 negative net margin of 6.19% and a positive return on equity of 8.63%. During the same quarter in the prior year, the firm posted $1.61 earnings per share. Sell-side analysts anticipate that American International Group, Inc. will post 5.12 EPS for the current fiscal year.

American International Group Dividend Announcement

The firm also recently declared 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 is Monday, December 16th. American International Group’s dividend payout ratio is currently -47.20%.

Insider Activity

In other news, major shareholder International Group American sold 5,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the completion of the transaction, the insider now directly owns 279,238,898 shares of the company’s stock, valued at $8,058,834,596.28. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.