Pzena Investment Management (NYSE:PZN) Releases Quarterly Earnings Results, Meets Estimates

Pzena Investment Management (NYSE:PZN) issued its quarterly earnings data on Wednesday. The asset manager reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18, Morningstar.com reports. The business had revenue of $37.84 million for the quarter, compared to analyst estimates of $39.13 million. Pzena Investment Management had a return on equity of 14.62% and a net margin of 8.77%.

Shares of PZN stock opened at $8.01 on Friday. The company has a market cap of $562.36 million, a price-to-earnings ratio of 10.40 and a beta of 1.18. Pzena Investment Management has a twelve month low of $7.36 and a twelve month 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 stock’s fifty day moving average price is $8.57.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, July 30th will be given a dividend of $0.03 per share. The ex-dividend date is Monday, July 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.50%. Pzena Investment Management’s dividend payout ratio is currently 15.58%.

PZN has been the topic of a number of research reports. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price objective on the stock in a research report on Tuesday, June 25th. ValuEngine upgraded WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th.

Hedge funds have recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in shares of Pzena Investment Management in the 1st quarter valued at about $343,000. Punch & Associates Investment Management Inc. grew its position in shares of Pzena Investment Management by 3.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,781,489 shares of the asset manager’s stock valued at $14,412,000 after buying an additional 61,366 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Pzena Investment Management by 118.6% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 40,649 shares of the asset manager’s stock valued at $329,000 after buying an additional 22,057 shares during the last quarter. Cigna Investments Inc. New grew its position in shares of Pzena Investment Management by 70.2% in the 1st quarter. Cigna Investments Inc. New now owns 56,265 shares of the asset manager’s stock valued at $455,000 after buying an additional 23,205 shares during the last quarter. Finally, Royce & Associates LP grew its position in shares of Pzena Investment Management by 26.5% in the 1st quarter. Royce & Associates LP now owns 921,099 shares of the asset manager’s stock valued at $7,452,000 after buying an additional 192,847 shares during the last quarter. Institutional investors and hedge funds own 16.57% of the company’s stock.

About Pzena Investment Management

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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Earnings History for Pzena Investment Management (NYSE:PZN)

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