Cortland Advisers Llc Decreased Stake in American International Group Inc (NYSE:AIG) by $36.60 Million as Shares Rose

Cortland Advisers Llc decreased its stake in American International Group Inc (NYSE:AIG) by 25% based on its latest Q4 2015 regulatory filing with the SEC. Cortland Advisers Llc sold 600,000 shares as the company’s stock rose 8.87% with the market. The institutional investor held 1.80M shares of the finance company at the end of Q4, valued at $111.55 million, down from 2.40 million at the end of the previous reported quarter. Cortland Advisers Llc who had been investing in American International Group Inc since many months, could be less bullish the $64.82 billion market cap company. The stock is up 0.15% or $0.08 hitting $52.53, despite the negative news. About 10.24 million shares traded hands. American International Group Inc (NYSE:AIG) has declined 16.01% since July 7, 2015 and is downtrending. It has underperformed by 5.00% the S&P500.

Cortland Advisers Llc, which manages about $3.82 billion US Long portfolio, upped its stake in Dominion Resources Inc/Va (NYSE:D) by 300,000 shares to 600,000 shares, valued at $40.58 million in Q4, according to the filing.

The institutional sentiment increased to 0.84 in 2015 Q3. Its up 0.08, from 0.76 in 2015Q2. The ratio improved, as 75 funds sold all AIG shares owned while 386 reduced positions. 81 funds bought stakes while 305 increased positions. They now own 1.04 billion shares or 4.10% less from 1.08 billion shares in 2015Q2.

Nfc Investments Llc holds 15.26% of its portfolio in AIG for 568,175 shares. Kensico Capital Management Corp owns 9.55 million shares or 11.44% of their US portfolio. Moreover, Chieftain Capital Management Inc. has 11.18% invested in the company for 3.89 million shares. The New York-based Royal Capital Management Llc has invested 10.07% in the stock. Firefly Value Partners Lp, a New York-based fund reported 1.10 million shares.

Out of 18 analysts covering American International Group (NYSE:AIG), 14 rate it “Buy”, 1 “Sell”, while 8 “Hold”. This means 61% are positive. $75 is the highest target while $57 is the lowest. The $67 average target is 32.17% above today’s ($52.53) stock price. American International Group was the topic in 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. William Blair downgraded the stock on February 3 to “Market Perform” rating. Piper Jaffray maintained it with “Overweight” rating and $77 target price in a November 3 report. Keefe Bruyette & Woods upgraded the shares of AIG in a report on December 15 to “Outperform” rating. S&P Research maintained the firm’s rating on October 29. S&P Research has “Buy” rating and $72 price target. Finally, Avondale downgraded the stock to “Underperform” rating in a November 4 report.

American International Group, Inc. is an insurance company. The company has a market cap of $64.82 billion. The Firm provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. It has 15.41 P/E ratio. The Company’s various offerings include services and products that help businesses and individuals protect their assets, manage risks and provide for retirement security.

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