Pzena Investment Management (NYSE:PZN) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Pzena Investment Management (NYSE:PZN) released its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02, Bloomberg Earnings reports. Pzena Investment Management had a net margin of 4.89% and a return on equity of 13.39%. The company had revenue of $38.91 million during the quarter, compared to analysts’ expectations of $37.51 million. During the same period in the previous year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 33.8% on a year-over-year basis.

Shares of Pzena Investment Management (NYSE PZN) opened at $10.81 on Thursday. Pzena Investment Management has a twelve month low of $8.25 and a twelve month high of $13.15. The company has a market cap of $729.94, a PE ratio of 16.91 and a beta of 1.77.

The firm also recently declared a special dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a dividend yield of 0.0369718309859155%. This is a positive change from Pzena Investment Management’s previous special dividend of $0.28. Pzena Investment Management’s payout ratio is currently 31.58%.

Several large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of Pzena Investment Management by 1.7% in the 2nd quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Pzena Investment Management by 23.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 3,603 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Pzena Investment Management by 5.4% in the 2nd quarter. State Street Corp now owns 230,170 shares of the asset manager’s stock valued at $2,338,000 after purchasing an additional 11,855 shares in the last quarter. Institutional investors and hedge funds own 17.57% of the company’s stock.

Several research firms have recently commented on PZN. Zacks Investment Research upgraded shares of Pzena Investment Management from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Wednesday, October 25th. TheStreet lowered shares of Pzena Investment Management from a “b+” rating to a “c+” rating in a report on Wednesday, February 7th.

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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.

Earnings History for Pzena Investment Management (NYSE:PZN)

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