Pzena Investment Management (PZN) Rating Lowered to Hold at Zacks Investment Research
Zacks Investment Research downgraded shares of Pzena Investment Management (NYSE:PZN) from a buy rating to a hold rating in a research report report published on Thursday morning.
According to Zacks, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. “
Separately, TheStreet cut Pzena Investment Management from a b+ rating to a c+ rating in a research report on Wednesday, February 7th.
Pzena Investment Management (NYSE:PZN) last announced its earnings results on Tuesday, February 6th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.02. The firm had revenue of $38.91 million during the quarter, compared to analysts’ expectations of $37.51 million. Pzena Investment Management had a return on equity of 13.39% and a net margin of 4.89%. The business’s revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. research analysts anticipate that Pzena Investment Management will post 0.86 EPS for the current year.
The business also recently disclosed a special dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 16th were given a dividend of $0.42 per share. This represents a yield of 0.0369718309859155%. This is a boost from Pzena Investment Management’s previous special dividend of $0.28. The ex-dividend date was Thursday, February 15th. Pzena Investment Management’s dividend payout ratio (DPR) is presently 31.58%.
A number of institutional investors have recently bought and sold shares of the business. Epoch Investment Partners Inc. lifted its position in Pzena Investment Management by 1.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,399,930 shares of the asset manager’s stock worth $15,245,000 after acquiring an additional 16,511 shares during the period. Deprince Race & Zollo Inc. lifted its position in Pzena Investment Management by 29.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 842,134 shares of the asset manager’s stock worth $9,171,000 after acquiring an additional 193,117 shares during the period. Vanguard Group Inc. lifted its position in Pzena Investment Management by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 786,395 shares of the asset manager’s stock worth $7,990,000 after acquiring an additional 18,356 shares during the period. Renaissance Technologies LLC lifted its position in Pzena Investment Management by 7.6% during the 4th quarter. Renaissance Technologies LLC now owns 747,200 shares of the asset manager’s stock worth $7,973,000 after acquiring an additional 52,800 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Pzena Investment Management by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 384,262 shares of the asset manager’s stock worth $4,185,000 after acquiring an additional 11,181 shares during the period. 17.63% of the stock is owned by institutional investors.
About Pzena Investment Management
Pzena Investment Management, Inc is a holding company. The Company is the sole managing member of Pzena Investment Management, LLC. Pzena Investment Management, LLC is an investment management company. The Company also serves as the general partner of Pzena Investment Management, LP. The Company offers institutional investment products to public and corporate pension funds, endowments, foundations and certain commingled vehicles geared toward institutional investors.
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