Pzena Investment Management (PZN) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of Pzena Investment Management (NYSE:PZN) from a hold rating to a sell rating in a report issued on Wednesday morning.
According to Zacks, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. “
Other research analysts have also issued reports about the company. TheStreet lowered Pzena Investment Management from a b+ rating to a c+ rating in a report on Wednesday, February 7th. ValuEngine upgraded Pzena Investment Management from a hold rating to a buy rating in a report on Wednesday.
Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.19 EPS for the quarter, topping the consensus estimate of $0.17 by $0.02. The business had revenue of $38.91 million during the quarter, compared to analyst estimates of $37.51 million. Pzena Investment Management had a return on equity of 13.39% and a net margin of 4.89%. The company’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. analysts forecast that Pzena Investment Management will post 0.86 EPS for the current fiscal year.
The business also recently announced a special dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, February 15th. This is a positive change from Pzena Investment Management’s previous special dividend of $0.28. This represents a yield of 0.0369718309859155%. Pzena Investment Management’s dividend payout ratio (DPR) is 31.58%.
A number of large investors have recently added to or reduced their stakes in PZN. Deprince Race & Zollo Inc. boosted its holdings in Pzena Investment Management by 29.8% in the third quarter. Deprince Race & Zollo Inc. now owns 842,134 shares of the asset manager’s stock valued at $9,171,000 after purchasing an additional 193,117 shares during the period. Millennium Management LLC boosted its holdings in Pzena Investment Management by 85.3% in the fourth quarter. Millennium Management LLC now owns 162,993 shares of the asset manager’s stock valued at $1,739,000 after purchasing an additional 75,046 shares during the period. Deutsche Bank AG boosted its holdings in Pzena Investment Management by 69.5% in the fourth quarter. Deutsche Bank AG now owns 132,096 shares of the asset manager’s stock valued at $1,407,000 after purchasing an additional 54,178 shares during the period. Stone Ridge Asset Management LLC purchased a new position in Pzena Investment Management in the fourth quarter valued at $573,000. Finally, Renaissance Technologies LLC boosted its holdings in Pzena Investment Management by 7.6% in the fourth quarter. Renaissance Technologies LLC now owns 747,200 shares of the asset manager’s stock valued at $7,973,000 after purchasing an additional 52,800 shares during the period. Hedge funds and other institutional investors own 17.63% 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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