First Quadrant L P CA lessened its holdings in shares of Pzena Investment Management, Inc. (NYSE:PZN) by 63.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 46,997 shares of the asset manager’s stock after selling 82,803 shares during the period. First Quadrant L P CA’s holdings in Pzena Investment Management were worth $419,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of PZN. Marshall Wace LLP acquired a new position in Pzena Investment Management during the first quarter worth approximately $343,000. Strs Ohio increased its position in Pzena Investment Management by 3.9% during the second quarter. Strs Ohio now owns 67,400 shares of the asset manager’s stock worth $578,000 after buying an additional 2,500 shares during the period. Swiss National Bank increased its position in Pzena Investment Management by 9.9% during the second quarter. Swiss National Bank now owns 32,200 shares of the asset manager’s stock worth $277,000 after buying an additional 2,900 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Pzena Investment Management during the second quarter worth approximately $1,379,000. Finally, Chicago Equity Partners LLC acquired a new position in Pzena Investment Management during the second quarter worth approximately $153,000. 17.33% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine raised Pzena Investment Management from a “sell” rating to a “hold” rating in a research report on Friday, October 4th.
PZN opened at $8.59 on Tuesday. The firm has a market cap of $608.11 million, a price-to-earnings ratio of 12.34 and a beta of 1.18. Pzena Investment Management, Inc. has a 52 week low of $7.23 and a 52 week high of $10.48. The business’s 50 day moving average is $8.78 and its two-hundred day moving average is $8.70. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.16.
Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Thursday, October 17th. The asset manager reported $0.19 EPS for the quarter. The company had revenue of $37.07 million for the quarter. Pzena Investment Management had a return on equity of 14.09% and a net margin of 8.39%.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, October 29th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.40%. The ex-dividend date is Monday, October 28th.
About Pzena Investment Management
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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