Brokerages Set $14.00 Target Price for Pzena Investment Management, Inc. (PZN)

Pzena Investment Management, Inc. (NYSE:PZN) has received an average broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokerages have set a 1-year consensus target price of $14.00 for the company and are expecting that the company will post $0.17 earnings per share for the current quarter, according to Zacks. Zacks has also given Pzena Investment Management an industry rank of 70 out of 265 based on the ratings given to its competitors.

Separately, Zacks Investment Research raised Pzena Investment Management from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, October 25th.

Shares of Pzena Investment Management (PZN) traded up $0.37 during trading on Friday, hitting $12.86. The stock had a trading volume of 47,700 shares, compared to its average volume of 71,292. The firm has a market cap of $880.66, a price-to-earnings ratio of 18.37 and a beta of 1.75. Pzena Investment Management has a fifty-two week low of $8.25 and a fifty-two week high of $12.89.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings data on Tuesday, October 17th. The asset manager reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. Pzena Investment Management had a return on equity of 12.92% and a net margin of 14.41%. The business had revenue of $36.23 million for the quarter, compared to the consensus estimate of $35.00 million. The firm’s revenue was up 34.2% compared to the same quarter last year. sell-side analysts predict that Pzena Investment Management will post 0.6 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of PZN. Epoch Investment Partners Inc. increased its position in Pzena Investment Management by 1.2% in the 3rd quarter. Epoch Investment Partners Inc. now owns 1,399,930 shares of the asset manager’s stock worth $15,245,000 after buying an additional 16,511 shares during the period. Dimensional Fund Advisors LP increased its position 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 worth $4,185,000 after buying an additional 11,181 shares during the period. Wells Fargo & Company MN increased its position in Pzena Investment Management by 196.0% in the 3rd quarter. Wells Fargo & Company MN now owns 51,020 shares of the asset manager’s stock worth $556,000 after buying an additional 33,784 shares during the period. Trexquant Investment LP bought a new position in Pzena Investment Management in the 3rd quarter worth approximately $160,000. Finally, Russell Investments Group Ltd. increased its position 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 worth $3,693,000 after buying an additional 43,955 shares during the period. 17.69% of the stock is currently owned by institutional investors and hedge funds.

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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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