Pzena Investment Management Is Betting Big on These Five Stocks

#3 American International Group Inc (NYSE:AIG)

Shares Owned by Pzena Investment Management (as of September 30): 8.19 million shares

Value of Holding (as of September 30): $465.23 Million

Insurance giant American International Group Inc (NYSE:AIG) retained its position as Pzena Investment Management’s third-largest holding at the end of third quarter even though the fund sold 3% or 322,130 shares of the company during the July-September period. After rising more than 30% between February and July, shares of American International Group Inc (NYSE:AIG) witnessed a U-shaped correction period in the next 3 months and currently trade with year-to-date gains of 9.46%. Recently the stock of the company slid by more than 4% in a day after it released its fiscal 2015 third quarter earnings. While the Street was expecting the company to report EPS of $1.03 on revenue of $14.22 billion, it reported EPS of $0.52 on revenue of $12.82 billion. On November 3, analysts at Barclays reiterated their ‘Overweight’ rating on the stock, but lowered their price target on it to $71 from $73. John Armitage‘s Egerton Capital Limited initiated a stake in the company during the second quarter by purchasing almost 6 million shares.

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