AIG: S&P Intraday Laggard

NEW YORK ( TheStreet) - American International Group ( AIG) was the worst performer in the S&P 500 intraday Thursday.

The S&P 500 was higher by 6.59 points, or 0.49%, to 1,359.22 in trading early Thursday.

Shares of AIG fell 3.16% to $28.52.

The U.S. Treasury is selling $6 billion worth of its bailout-related holdings in the insurance giant. AIG is expected to purchase up to $3 billion worth of the stock being sold by the Treasury, which will still hold nearly $42 billion sunk into the company following its 2008 bailout.

AIG has an estimated price-to-earnings ratio for next year of 10.31 times; the average for full-line insurance companies is 11.89. For comparison, both United Fire and Casualty ( UFCS) and Eastern Insurance Holdings ( EIHI) have higher forward P/Es of 22.58 and 16.88, respectively.

Twelve of the 16 analysts who cover AIG rated it hold. Three analysts gave the stock a buy rating and one rated it sell.

TheStreet Ratings gives AIG a C grade and a hold rating. The stock has risen 22.93% year to date.

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-- Written by Alexandra Zendrian

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