Zacks: Analysts Set $14.00 Price Target for Pzena Investment Management, Inc. (PZN)

Shares of Pzena Investment Management, Inc. (NYSE:PZN) have been given a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating.

Brokers have set a twelve-month consensus price objective of $14.00 for the company and are expecting that the company will post $0.19 earnings per share for the current quarter, according to Zacks. Zacks has also given Pzena Investment Management an industry rank of 219 out of 265 based on the ratings given to related companies.

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Several equities analysts recently issued reports on PZN shares. ValuEngine raised Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research cut Pzena Investment Management from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. Finally, TheStreet cut Pzena Investment Management from a “b+” rating to a “c+” rating in a report on Wednesday, February 7th.

Shares of NYSE PZN traded down $0.12 during midday trading on Friday, hitting $10.41. 7,238 shares of the company’s stock were exchanged, compared to its average volume of 50,210. Pzena Investment Management has a twelve month low of $8.25 and a twelve month high of $13.15. The firm has a market capitalization of $728.57, a PE ratio of 16.87 and a beta of 1.76.

Pzena Investment Management (NYSE:PZN) last issued its earnings results on Tuesday, February 6th. The asset manager reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. Pzena Investment Management had a return on equity of 12.90% and a net margin of 4.89%. The business had revenue of $38.91 million for the quarter, compared to analyst estimates of $37.51 million. During the same quarter last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 33.8% on a year-over-year basis. sell-side analysts forecast that Pzena Investment Management will post 0.86 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of PZN. State Street Corp boosted its stake in Pzena Investment Management by 5.4% during 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. The Manufacturers Life Insurance Company increased its holdings in shares of 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 valued at $191,000 after purchasing an additional 3,603 shares in the last quarter. California State Teachers Retirement System increased its holdings in shares of 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 valued at $304,000 after purchasing an additional 500 shares in the last quarter. Nationwide Fund Advisors increased its holdings in shares of Pzena Investment Management by 7.0% in the third quarter. Nationwide Fund Advisors now owns 168,423 shares of the asset manager’s stock valued at $1,834,000 after purchasing an additional 11,083 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Pzena Investment Management by 9.3% in the third quarter. Bank of New York Mellon Corp now owns 99,065 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 8,443 shares in the last quarter. 17.70% of the stock is owned by institutional investors.

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Pzena Investment Management Company Profile

Pzena Investment Management, Inc is a publicly owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. Pzena Investment Management, Inc was founded in 2007 and is based in New York City with additional offices in Melbourne, Australia and London, United Kingdom.

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