Pzena Investment Management (NYSE:PZN) Issues Quarterly Earnings Results

Pzena Investment Management (NYSE:PZN) announced its quarterly earnings data on Wednesday. The asset manager reported $0.18 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18, Morningstar.com reports. The firm had revenue of $37.84 million during the quarter, compared to analysts’ expectations of $39.13 million. Pzena Investment Management had a return on equity of 14.62% and a net margin of 8.77%.

Shares of NYSE:PZN opened at $7.80 on Friday. The company has a market cap of $548.96 million, a PE ratio of 10.13 and a beta of 1.18. Pzena Investment Management has a 1-year low of $7.36 and a 1-year high of $10.48. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.90 and a quick ratio of 2.90. The stock’s 50-day moving average price is $8.54.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.12 annualized dividend and a yield of 1.54%. Pzena Investment Management’s dividend payout ratio is currently 15.58%.

A number of large investors have recently made changes to their positions in PZN. Rhumbline Advisers raised its holdings in Pzena Investment Management by 41.7% during the 4th quarter. Rhumbline Advisers now owns 25,759 shares of the asset manager’s stock worth $223,000 after purchasing an additional 7,575 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Pzena Investment Management in the 4th quarter valued at about $116,000. Bank of New York Mellon Corp increased its stake in shares of Pzena Investment Management by 11.2% in the 4th quarter. Bank of New York Mellon Corp now owns 104,019 shares of the asset manager’s stock valued at $900,000 after acquiring an additional 10,481 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Pzena Investment Management by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 478,494 shares of the asset manager’s stock valued at $4,139,000 after acquiring an additional 14,106 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Pzena Investment Management by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 128,146 shares of the asset manager’s stock valued at $1,108,000 after acquiring an additional 7,740 shares during the last quarter. 16.57% of the stock is owned by hedge funds and other institutional investors.

Several analysts have weighed in on the company. Zacks Investment Research raised FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective for the company in a report on Tuesday, June 25th. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th.

About Pzena Investment Management

Pzena Investment Management, Inc is a publicly owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. Pzena Investment Management, Inc was founded in 2007 and is based in New York City with additional offices in Melbourne, Australia and London, United Kingdom.

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Earnings History for Pzena Investment Management (NYSE:PZN)

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