AIG: Top S&P 500 Gainer

NEW YORK ( TheStreet) -- American International Group ( AIG) was the best-performing stock in the S&P 500 midday Monday.

The S&P 500 declined 7.99 points to 1,361.64 midday Monday.

Shares of AIG rose 3.52% to $30.85.

The insurance company is selling $6 billion of shares in its Asian unit -- AIA Group -- to help repay bailout funds it received from the U.S. government in 2008 during the financial crisis.

The U.S. government owns about 77% of AIG.

AIG has an estimated price-to-earnings ratio of 10.83 times; the average for full-line insurance companies is 12.09. For comparison, both United Fire Group ( UFCS) and Eastern Insurance Holdings ( EIHI) have higher forward P/Es of 22.94 and 16.93, respectively.

Twelve of the 17 analysts who cover American International Group rated it hold. Four analysts gave the stock a buy rating and one rated it sell.

TheStreet Ratings gives American International Group a C grade and hold rating. The stock has risen 32.72% year to date.

-- Written by Alexandra Zendrian

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