Pzena Investment Management (NYSE:PZN) Downgraded to “Hold” at StockNews.com

StockNews.com cut shares of Pzena Investment Management (NYSE:PZNGet Rating) from a buy rating to a hold rating in a report issued on Thursday.

Shares of PZN opened at $6.93 on Thursday. The company has a quick ratio of 3.11, a current ratio of 3.11 and a debt-to-equity ratio of 0.25. Pzena Investment Management has a 52-week low of $6.11 and a 52-week high of $12.13. The stock has a 50 day moving average price of $7.18 and a 200 day moving average price of $8.79. The company has a market capitalization of $512.08 million, a price-to-earnings ratio of 7.53 and a beta of 1.24.

Pzena Investment Management (NYSE:PZNGet Rating) last posted its earnings results on Tuesday, April 19th. The asset manager reported $0.16 EPS for the quarter. Pzena Investment Management had a net margin of 8.39% and a return on equity of 11.72%. The firm had revenue of $52.76 million for the quarter.

The business also recently announced a quarterly dividend, which was paid on Friday, May 20th. Shareholders of record on Friday, April 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Thursday, April 28th. This represents a $0.12 annualized dividend and a dividend yield of 1.73%. Pzena Investment Management’s dividend payout ratio (DPR) is currently 13.04%.

In other news, CEO Richard Stanton Pzena acquired 779,586 shares of the business’s stock in a transaction on Tuesday, March 29th. The stock was bought at an average price of $5.45 per share, for a total transaction of $4,248,743.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 53.61% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new stake in shares of Pzena Investment Management in the first quarter valued at approximately $343,000. Citadel Advisors LLC boosted its position in shares of Pzena Investment Management by 137.4% during the 2nd quarter. Citadel Advisors LLC now owns 26,519 shares of the asset manager’s stock worth $292,000 after purchasing an additional 15,350 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Pzena Investment Management by 12.2% during the 2nd quarter. Wells Fargo & Company MN now owns 116,621 shares of the asset manager’s stock worth $1,284,000 after purchasing an additional 12,691 shares in the last quarter. Barclays PLC grew its stake in shares of Pzena Investment Management by 209.2% during the 3rd quarter. Barclays PLC now owns 6,904 shares of the asset manager’s stock worth $68,000 after purchasing an additional 4,671 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Pzena Investment Management by 38.0% in the 3rd quarter. Goldman Sachs Group Inc. now owns 149,776 shares of the asset manager’s stock valued at $1,474,000 after purchasing an additional 41,222 shares in the last quarter. Institutional investors own 14.54% of the company’s stock.

Pzena Investment Management Company Profile (Get Rating)

Pzena Investment Management, Inc is a employee owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. The firm provides its services to Individuals, high net worth individuals, investment companies, pooled investment vehicles, charitable organizations, pension and profit sharing plans, state or municipal government entities, charitable organizations, other investment advisers, insurance companies, sovereign wealth funds and foreign official institutions, corporations or other businesses.

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