ValuEngine lowered shares of Pzena Investment Management Inc (NYSE:PZN) from a buy rating to a hold rating in a research note released on Friday morning.

Several other equities research analysts have also recently weighed in on PZN. BidaskClub raised Pzena Investment Management from a sell rating to a hold rating in a research note on Wednesday, August 9th. Zacks Investment Research raised Pzena Investment Management from a sell rating to a hold rating in a research note on Saturday, May 27th.

Pzena Investment Management (NYSE:PZN) opened at 9.93 on Friday. The company has a market capitalization of $171.64 million, a PE ratio of 15.16 and a beta of 1.63. The company has a 50 day moving average price of $10.36 and a 200-day moving average price of $9.83. Pzena Investment Management has a one year low of $7.11 and a one year high of $11.85.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Tuesday, July 18th. The asset manager reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. The company had revenue of $34.11 million for the quarter, compared to analysts’ expectations of $32 million. Pzena Investment Management had a return on equity of 12.93% and a net margin of 14.82%. The firm’s revenue was up 29.0% on a year-over-year basis. Analysts expect that Pzena Investment Management will post $0.58 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Friday, July 28th were paid a $0.03 dividend. The ex-dividend date of this dividend was Wednesday, July 26th. This represents a $0.12 annualized dividend and a yield of 1.21%. Pzena Investment Management’s payout ratio is 18.18%.

A number of hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new stake in Pzena Investment Management in the second quarter worth $173,000. California State Teachers Retirement System grew its stake in Pzena Investment Management by 1.7% in the second quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock worth $304,000 after purchasing an additional 500 shares during the period. The Manufacturers Life Insurance Company grew its stake in Pzena Investment Management by 23.7% in the second quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock worth $191,000 after purchasing an additional 3,603 shares during the period. State Street Corp grew its stake in Pzena Investment Management by 5.4% in the second quarter. State Street Corp now owns 230,170 shares of the asset manager’s stock worth $2,338,000 after purchasing an additional 11,855 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its stake in Pzena Investment Management by 2.6% in the second quarter. Punch & Associates Investment Management Inc. now owns 1,686,280 shares of the asset manager’s stock worth $17,133,000 after purchasing an additional 43,281 shares during the period. 17.38% of the stock is currently owned by institutional investors.

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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