Zacks Investment Research Upgrades Pzena Investment Management, Inc. (PZN) to Buy

Pzena Investment Management, Inc. (NYSE:PZN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, April 14th. The firm presently has a $12.00 price target on the asset manager’s stock. Zacks Investment Research‘s price target points to a potential upside of 41.34% from the company’s previous close.

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. “

Separately, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Pzena Investment Management in a report on Thursday, January 12th.

Pzena Investment Management (NYSE:PZN) traded up 0.94% during trading on Friday, hitting $8.57. The company had a trading volume of 35,008 shares. The company has a market capitalization of $148.74 million, a price-to-earnings ratio of 14.24 and a beta of 2.07. The firm has a 50-day moving average of $9.91 and a 200 day moving average of $9.94. Pzena Investment Management has a 12-month low of $7.06 and a 12-month high of $11.85.

Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings data on Tuesday, April 18th. The asset manager reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.01. Pzena Investment Management had a return on equity of 13.43% and a net margin of 14.93%. The company had revenue of $32 million for the quarter, compared to the consensus estimate of $30 million. The business’s revenue was up 24.0% on a year-over-year basis. On average, equities research analysts forecast that Pzena Investment Management will post $0.52 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 18th. Shareholders of record on Friday, April 28th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend was Wednesday, April 26th. Pzena Investment Management’s dividend payout ratio is presently 20.69%.

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Several large investors have recently modified their holdings of PZN. Schwab Charles Investment Management Inc. increased its stake in shares of Pzena Investment Management by 4.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 50,870 shares of the asset manager’s stock worth $501,000 after buying an additional 2,394 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Pzena Investment Management by 16.3% in the first quarter. Acrospire Investment Management LLC now owns 17,122 shares of the asset manager’s stock worth $168,000 after buying an additional 2,398 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Pzena Investment Management by 0.4% in the first quarter. Vanguard Group Inc. now owns 768,039 shares of the asset manager’s stock worth $7,557,000 after buying an additional 3,265 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Pzena Investment Management by 4.4% in the first quarter. Geode Capital Management LLC now owns 85,240 shares of the asset manager’s stock worth $838,000 after buying an additional 3,563 shares in the last quarter. Finally, Falcon Point Capital LLC increased its stake in shares of Pzena Investment Management by 2.8% in the first quarter. Falcon Point Capital LLC now owns 131,682 shares of the asset manager’s stock worth $1,296,000 after buying an additional 3,571 shares in the last quarter. 15.64% of the stock is currently owned by hedge funds and other 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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