Nationwide Fund Advisors Grows Stake in Pzena Investment Management Inc (NYSE:PZN)

Nationwide Fund Advisors grew its position in Pzena Investment Management Inc (NYSE:PZN) by 60.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 157,340 shares of the asset manager’s stock after purchasing an additional 59,450 shares during the quarter. Nationwide Fund Advisors owned about 0.91% of Pzena Investment Management worth $1,599,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Schwab Charles Investment Management Inc. lifted its stake in Pzena Investment Management by 0.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 51,136 shares of the asset manager’s stock worth $520,000 after purchasing an additional 266 shares during the last quarter. Falcon Point Capital LLC lifted its stake in Pzena Investment Management by 0.4% during the second quarter. Falcon Point Capital LLC now owns 132,272 shares of the asset manager’s stock worth $1,344,000 after purchasing an additional 590 shares during the last quarter. Rhumbline Advisers lifted its stake in Pzena Investment Management by 13.3% during the second quarter. Rhumbline Advisers now owns 20,379 shares of the asset manager’s stock worth $207,000 after purchasing an additional 2,400 shares during the last quarter. Vanguard Group Inc. lifted its stake in Pzena Investment Management by 0.4% during the first quarter. Vanguard Group Inc. now owns 768,039 shares of the asset manager’s stock worth $7,557,000 after purchasing an additional 3,265 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Pzena Investment Management by 35.5% during the first quarter. Swiss National Bank now owns 22,900 shares of the asset manager’s stock worth $225,000 after purchasing an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 17.40% of the company’s stock.

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Pzena Investment Management Inc (PZN) opened at 11.98 on Friday. Pzena Investment Management Inc has a 52-week low of $7.11 and a 52-week high of $12.70. The company has a market cap of $207.07 million, a PE ratio of 17.07 and a beta of 1.65. The stock’s 50 day moving average is $10.69 and its 200-day moving average is $10.09.

Pzena Investment Management (NYSE:PZN) last posted its earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. Pzena Investment Management had a net margin of 14.41% and a return on equity of 13.36%. The firm had revenue of $36.23 million during the quarter, compared to analysts’ expectations of $35.00 million. Pzena Investment Management’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts predict that Pzena Investment Management Inc will post $0.60 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Friday, October 27th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, October 26th. Pzena Investment Management’s payout ratio is presently 16.90%.

Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded Pzena Investment Management from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, October 10th. ValuEngine upgraded Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, BidaskClub upgraded Pzena Investment Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

Pzena Investment Management 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.

Institutional Ownership by Quarter for Pzena Investment Management (NYSE:PZN)

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