Zurcher Kantonalbank Zurich Cantonalbank Has $30.85 Million Position in American International Group, Inc. $AIG

Key Points

• Zurcher Kantonalbank trimmed its AIG stake by 3.8% to 360,597 shares, a position worth about $30.85 million.
• AIG's latest quarter beat EPS expectations ($1.96 vs. $1.90) but missed revenue estimates ($6.55B vs. $6.99B), and it pays a quarterly dividend of $0.45 (annualized yield ~2.3%).
• Analysts' consensus rating is "Hold" with an average price target of $86.76, and roughly 90.6% of the stock is owned by institutional investors.

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in American International Group, Inc. (NYSE:AIG - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 360,597 shares of the insurance provider's stock after selling 14,158 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of American International Group worth $30,849,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. lifted its holdings in American International Group by 88.8% in the third quarter. Meeder Asset Management Inc. now owns 58,314 shares of the insurance provider's stock valued at $4,580,000 after buying an additional 27,431 shares during the period. AlphaQuest LLC acquired a new position in American International Group in the third quarter valued at approximately $2,724,000. Allstate Corp acquired a new position in American International Group in the third quarter valued at approximately $1,689,000. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in American International Group by 21.6% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 583,680 shares of the insurance provider's stock valued at $45,842,000 after buying an additional 103,762 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in American International Group in the third quarter worth $2,257,000. 90.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AIG has been the topic of several analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of American International Group in a report on Monday, December 29th. Evercore cut their target price on shares of American International Group from $90.00 to $85.00 in a report on Friday, January 23rd. Mizuho cut their target price on shares of American International Group from $86.00 to $84.00 and set a "neutral" rating on the stock in a report on Monday, April 13th. Cantor Fitzgerald increased their target price on shares of American International Group from $77.00 to $81.00 and gave the stock a "neutral" rating in a report on Tuesday, February 17th. Finally, The Goldman Sachs Group cut their target price on shares of American International Group from $90.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $86.76.

American International Group Stock Down 0.8%

Shares of AIG stock opened at $77.97 on Wednesday. The firm has a fifty day moving average of $77.42 and a 200-day moving average of $78.18. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.22. American International Group, Inc. has a 12-month low of $71.25 and a 12-month high of $87.46. The company has a market capitalization of $41.86 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.59 and a beta of 0.59.

American International Group (NYSE:AIG - Get Free Report) last issued its quarterly earnings data on Thursday, February 12th. The insurance provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. American International Group had a net margin of 11.56% and a return on equity of 9.79%. The company had revenue of $6.55 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same quarter in the prior year, the firm earned $1.30 earnings per share. As a group, equities research analysts predict that American International Group, Inc. will post 7.79 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 Monday, March 30th. Stockholders of record on Monday, March 16th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, March 16th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. American International Group's dividend payout ratio is currently 33.21%.

American International Group Profile

American International Group, Inc (AIG) is a global insurance holding company that provides a broad range of property-casualty insurance, specialty insurance, and risk management solutions to institutional, commercial and individual customers. Through its operating subsidiaries, AIG underwrites commercial and personal lines products—ranging from general liability, property, and casualty coverages to specialty lines such as professional liability, surety, cyber and marine—along with related services designed to help clients manage and transfer risk.

The company also has a long history in life insurance, retirement solutions and asset management through businesses that have been restructured or separated over time.

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