Is American International Group Inc (AIG) a Good Stock To Buy?

Due to the fact that American International Group Inc (NYSE:AIG) has faced declining sentiment from hedge fund managers, it’s safe to say that there were a few fund managers who were dropping their positions entirely heading into the fourth quarter. At the top of the heap, First Eagle Investment Management dropped the biggest position of the “upper crust” of funds watched by Insider Monkey, totaling an estimated $441.8 million in stock. Richard Perry’s fund, Perry Capital, also said goodbye to its stock, about $195.7 million worth.

Let’s now take a look at hedge fund activity in other stocks similar to American International Group Inc (NYSE:AIG). These stocks are Duke Energy Corp (NYSE:DUK), The Bank of Nova Scotia (USA) (NYSE:BNS), Eni SpA (ADR) (NYSE:E), and National Grid plc (ADR) (NYSE:NGG). This group of stocks’ market values resemble AIG’s market value.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $320 million at the end of the third quarter. That figure was $6.70 billion in AIG’s case. Duke Energy Corp (NYSE:DUK) is the most popular stock in this table. On the other hand Eni SpA (ADR) (NYSE:E) is the least popular one with only four bullish hedge fund positions. Compared to these stocks American International Group Inc (NYSE:AIG) is significantly more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.