Pzena Investment Management (NYSE:PZN) announced its quarterly earnings data on Wednesday. The asset manager reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18, Morningstar.com reports. The business had revenue of $37.84 million for the quarter, compared to the consensus estimate of $39.13 million. Pzena Investment Management had a net margin of 8.77% and a return on equity of 14.62%.
PZN opened at $7.80 on Friday. Pzena Investment Management has a fifty-two week low of $7.36 and a fifty-two week 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 business’s fifty day simple moving average is $8.54. The firm has a market capitalization of $548.96 million, a P/E ratio of 10.13 and a beta of 1.18.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, July 30th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Monday, July 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.54%. Pzena Investment Management’s dividend payout ratio is currently 15.58%.
Several equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of WPP from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 25th.
Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA boosted its stake in Pzena Investment Management by 8,082.2% during the first quarter. BNP Paribas Arbitrage SA now owns 3,682 shares of the asset manager’s stock worth $30,000 after buying an additional 3,637 shares in the last quarter. Bank of America Corp DE boosted its stake in Pzena Investment Management by 46.7% during the fourth quarter. Bank of America Corp DE now owns 11,214 shares of the asset manager’s stock worth $97,000 after buying an additional 3,570 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Pzena Investment Management during the fourth quarter worth $116,000. Hancock Whitney Corp acquired a new stake in Pzena Investment Management during the fourth quarter worth $163,000. Finally, Rhumbline Advisers boosted its stake in Pzena Investment Management by 41.7% during the fourth quarter. Rhumbline Advisers now owns 25,759 shares of the asset manager’s stock worth $223,000 after buying an additional 7,575 shares in the last quarter. Hedge funds and other institutional investors own 16.57% of the company’s stock.
Pzena Investment Management Company Profile
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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