Zacks: Pzena Investment Management, Inc. (PZN) Given $14.00 Consensus Target Price by Analysts
Pzena Investment Management, Inc. (NYSE:PZN) has received a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating.
Brokerages have set a twelve-month consensus price objective of $14.00 for the company and are forecasting that the company will post $0.19 EPS for the current quarter, according to Zacks. Zacks has also given Pzena Investment Management an industry rank of 90 out of 265 based on the ratings given to related companies.
A number of brokerages have issued reports on PZN. TheStreet lowered shares of Pzena Investment Management from a “b+” rating to a “c+” rating in a research report on Wednesday, February 7th. Zacks Investment Research lowered shares of Pzena Investment Management from a “buy” rating to a “hold” rating in a research report on Saturday, January 13th.
Pzena Investment Management (NYSE:PZN) last announced its earnings results on Tuesday, February 6th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.02. Pzena Investment Management had a net margin of 4.89% and a return on equity of 13.39%. The firm had revenue of $38.91 million for the quarter, compared to analyst estimates of $37.51 million. During the same quarter in the prior year, the business posted $0.15 EPS. The business’s revenue was up 33.8% compared to the same quarter last year. research analysts predict that Pzena Investment Management will post 0.87 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 16th will be given a dividend of $0.42 per share. This is a positive change from Pzena Investment Management’s previous special dividend of $0.28. The ex-dividend date is Thursday, February 15th. This represents a dividend yield of 0.0369718309859155%. Pzena Investment Management’s dividend payout ratio (DPR) is currently 31.58%.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Epoch Investment Partners Inc. boosted its position in shares of Pzena Investment Management by 1.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,399,930 shares of the asset manager’s stock worth $15,245,000 after acquiring an additional 16,511 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in Pzena Investment Management by 29.8% in the 3rd 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 last quarter. Vanguard Group Inc. lifted its stake in Pzena Investment Management by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 786,395 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 18,356 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pzena Investment Management by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 384,262 shares of the asset manager’s stock valued at $4,185,000 after purchasing an additional 11,181 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Pzena Investment Management by 14.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 339,160 shares of the asset manager’s stock valued at $3,693,000 after purchasing an additional 43,955 shares during the last quarter. Institutional investors and hedge funds own 17.57% of the company’s stock.
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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.
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