Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in American International Group, Inc. (NYSE:AIG)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its stake in American International Group, Inc. by 2.6%, acquiring an additional 6,861 shares, bringing its total holdings to 268,611 shares valued at approximately $23.35 million.
• American International Group recently disclosed a quarterly dividend increase from $0.40 to $0.45 per share, representing an annualized dividend of $1.80 and a yield of 2.28%.
• Recent analyst reports show positive sentiment towards AIG, with multiple price target upgrades, including a new target of $97.00 from Keefe, Bruyette & Woods, reflecting a consensus rating of "Moderate Buy."

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in American International Group, Inc. (NYSE:AIG - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 268,611 shares of the insurance provider's stock after purchasing an additional 6,861 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in American International Group were worth $23,353,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of American International Group by 175.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 181,810 shares of the insurance provider's stock worth $15,807,000 after purchasing an additional 115,706 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of American International Group by 2.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,625 shares of the insurance provider's stock worth $1,445,000 after purchasing an additional 355 shares during the period. IFP Advisors Inc boosted its holdings in shares of American International Group by 34.9% in the 1st quarter. IFP Advisors Inc now owns 2,882 shares of the insurance provider's stock worth $251,000 after purchasing an additional 745 shares during the period. GAMMA Investing LLC boosted its holdings in shares of American International Group by 18.6% in the 1st quarter. GAMMA Investing LLC now owns 13,187 shares of the insurance provider's stock worth $1,146,000 after purchasing an additional 2,069 shares during the period. Finally, Brighton Jones LLC purchased a new position in shares of American International Group in the 4th quarter worth approximately $1,091,000. Hedge funds and other institutional investors own 90.60% of the company's stock.

Insider Activity at American International Group

In other news, EVP Christopher Flatt sold 46,182 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $83.26, for a total value of $3,845,113.32. Following the completion of the transaction, the executive vice president directly owned 21,400 shares of the company's stock, valued at approximately $1,781,764. The trade was a 68.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.50% of the company's stock.

American International Group Stock Down 1.1%

Shares of AIG traded down $0.86 during trading hours on Friday, hitting $76.78. The company had a trading volume of 1,743,593 shares, compared to its average volume of 4,578,529. The company has a market capitalization of $44.25 billion, a PE ratio of -28.88, a price-to-earnings-growth ratio of 0.85 and a beta of 0.63. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.21. American International Group, Inc. has a one year low of $69.00 and a one year high of $88.07. The company's fifty day moving average price is $83.03 and its two-hundred day moving average price is $81.01.

American International Group (NYSE:AIG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The insurance provider reported $1.17 EPS for the quarter, topping the consensus estimate of $1.04 by $0.13. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.89 billion. American International Group had a positive return on equity of 7.13% and a negative net margin of 7.05%. During the same period in the previous year, the company posted $1.25 EPS. As a group, equities analysts forecast that American International Group, Inc. will post 6.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AIG has been the subject of a number of recent research reports. Barclays lifted their target price on American International Group from $92.00 to $93.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on American International Group from $94.00 to $97.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their price objective on American International Group from $81.00 to $82.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Jefferies Financial Group boosted their price objective on American International Group from $90.00 to $95.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $91.00 price objective (up previously from $83.00) on shares of American International Group in a report on Tuesday, April 8th. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $88.19.

American International Group 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.