Zacks: Pzena Investment Management, Inc. (PZN) Given Average Recommendation of “Hold” by Analysts
Shares of Pzena Investment Management, Inc. (NYSE:PZN) have been assigned an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Analysts have set a 1 year consensus price objective of $14.00 for the company and are predicting that the company will post $0.17 EPS for the current quarter, according to Zacks. Zacks has also given Pzena Investment Management an industry rank of 70 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded shares of Pzena Investment Management from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, January 12th.
Pzena Investment Management (NYSE:PZN) last issued its earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Pzena Investment Management had a net margin of 14.41% and a return on equity of 12.92%. The company had revenue of $36.23 million for the quarter, compared to analysts’ expectations of $35.00 million. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. equities research analysts anticipate that Pzena Investment Management will post 0.6 EPS for the current year.
A number of hedge funds have recently modified their holdings of PZN. Trexquant Investment LP purchased a new stake in Pzena Investment Management in the third quarter worth approximately $160,000. Susquehanna International Group LLP purchased a new position in shares of Pzena Investment Management during the 2nd quarter worth $173,000. The Manufacturers Life Insurance Company boosted its stake in shares of Pzena Investment Management by 23.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock worth $191,000 after acquiring an additional 3,603 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Pzena Investment Management by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 20,379 shares of the asset manager’s stock worth $207,000 after acquiring an additional 2,400 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of Pzena Investment Management by 1.7% during the 2nd quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock worth $304,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 17.69% of the company’s stock.
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Pzena Investment Management Company Profile
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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