Ameriprise Financial Inc. lowered its stake in shares of Pzena Investment Management Inc (NYSE:PZN) by 23.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 189,816 shares of the asset manager’s stock after selling 57,019 shares during the period. Ameriprise Financial Inc. owned 1.09% of Pzena Investment Management worth $1,868,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of PZN. Punch & Associates Investment Management Inc. boosted its stake in 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 valued at $16,167,000 after buying an additional 161,236 shares during the period. Renaissance Technologies LLC boosted its stake in Pzena Investment Management by 3.0% in the fourth quarter. Renaissance Technologies LLC now owns 554,600 shares of the asset manager’s stock valued at $6,162,000 after buying an additional 16,300 shares during the period. Dimensional Fund Advisors LP boosted its stake in Pzena Investment Management by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 305,503 shares of the asset manager’s stock valued at $3,394,000 after buying an additional 4,771 shares during the period. State Street Corp boosted its stake in Pzena Investment Management by 4.2% in the fourth quarter. State Street Corp now owns 200,155 shares of the asset manager’s stock valued at $2,223,000 after buying an additional 8,143 shares during the period. Finally, Russell Investments Group Ltd. boosted its stake in Pzena Investment Management by 21.9% in the first quarter. Russell Investments Group Ltd. now owns 160,110 shares of the asset manager’s stock valued at $1,575,000 after buying an additional 28,764 shares during the period. Hedge funds and other institutional investors own 16.80% of the company’s stock.

Shares of Pzena Investment Management Inc (NYSE:PZN) traded down 0.63% during trading on Monday, reaching $11.05. 86,244 shares of the company were exchanged. The stock’s 50 day moving average is $10.12 and its 200 day moving average is $9.85. The company has a market capitalization of $191.32 million, a price-to-earnings ratio of 16.87 and a beta of 1.68. Pzena Investment Management Inc has a 1-year low of $7.11 and a 1-year high of $11.85.

Pzena Investment Management (NYSE:PZN) last issued its earnings results on Tuesday, July 18th. The asset manager reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Pzena Investment Management had a net margin of 14.82% and a return on equity of 13.48%. The firm had revenue of $34.11 million during the quarter, compared to analyst estimates of $32 million. The company’s quarterly revenue was up 29.0% on a year-over-year basis. Equities analysts anticipate that Pzena Investment Management Inc will post $0.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Friday, July 28th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Wednesday, July 26th. Pzena Investment Management’s payout ratio is 18.18%.

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PZN has been the topic of several research reports. Zacks Investment Research cut shares of Pzena Investment Management from a “buy” rating to a “hold” rating in a research report on Wednesday, April 12th. ValuEngine upgraded shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Finally, BidaskClub cut shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a research report on Thursday.

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.

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

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