TIAA CREF Investment Management LLC increased its position in shares of Pzena Investment Management Inc (NYSE:PZN) by 31.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,240 shares of the asset manager’s stock after buying an additional 27,721 shares during the period. TIAA CREF Investment Management LLC’s holdings in Pzena Investment Management were worth $1,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PZN. Punch & Associates Investment Management Inc. raised its position in shares of Pzena Investment Management by 10.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 1,642,999 shares of the asset manager’s stock worth $16,167,000 after buying an additional 161,236 shares during the period. FMR LLC raised its position in shares of Pzena Investment Management by 42.9% in the first quarter. FMR LLC now owns 466,400 shares of the asset manager’s stock worth $4,589,000 after buying an additional 140,000 shares during the period. Mckinley Capital Management LLC Delaware raised its position in shares of Pzena Investment Management by 75.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 129,795 shares of the asset manager’s stock worth $1,277,000 after buying an additional 55,651 shares during the period. Hillsdale Investment Management Inc. raised its position in shares of Pzena Investment Management by 97.2% in the first quarter. Hillsdale Investment Management Inc. now owns 91,300 shares of the asset manager’s stock worth $899,000 after buying an additional 45,000 shares during the period. Finally, Cadence Capital Management LLC raised its position in shares of Pzena Investment Management by 65.2% in the first quarter. Cadence Capital Management LLC now owns 100,686 shares of the asset manager’s stock worth $991,000 after buying an additional 39,722 shares during the period. Institutional investors and hedge funds own 16.76% of the company’s stock.

Pzena Investment Management Inc (NYSE:PZN) traded up 0.49% during mid-day trading on Wednesday, reaching $10.22. 350 shares of the company’s stock were exchanged. The company has a 50-day moving average of $10.50 and a 200-day moving average of $9.83. The stock has a market cap of $176.65 million, a price-to-earnings ratio of 15.60 and a beta of 1.68. Pzena Investment Management Inc has a 52-week low of $7.11 and a 52-week high of $11.85.

Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings data on Tuesday, July 18th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The business had revenue of $34.11 million during the quarter, compared to the consensus estimate of $32 million. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities research analysts anticipate that Pzena Investment Management Inc will post $0.58 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Friday, July 28th will be paid a $0.03 dividend. The ex-dividend date is Wednesday, July 26th. This represents a $0.12 annualized dividend and a dividend yield of 1.18%. Pzena Investment Management’s payout ratio is 18.18%.

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PZN has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Pzena Investment Management from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. ValuEngine raised shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, BidaskClub downgraded shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd.

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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Institutional Ownership by Quarter for Pzena Investment Management (NYSE:PZN)

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