Millennium Management LLC Has $1.21 Million Holdings in Pzena Investment Management, Inc. (PZN)

Millennium Management LLC lessened its holdings in shares of Pzena Investment Management, Inc. (NYSE:PZN) by 33.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,170 shares of the asset manager’s stock after selling 66,678 shares during the period. Millennium Management LLC owned about 0.19% of Pzena Investment Management worth $1,208,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PZN. Meeder Asset Management Inc. grew its position in shares of Pzena Investment Management by 228.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 11,370 shares of the asset manager’s stock worth $105,000 after purchasing an additional 7,907 shares in the last quarter. Hartford Investment Management Co. acquired a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $202,000. First Quadrant L P CA acquired a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $213,000. Strs Ohio grew its position in shares of Pzena Investment Management by 9.7% during the 2nd quarter. Strs Ohio now owns 64,700 shares of the asset manager’s stock worth $595,000 after purchasing an additional 5,700 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Pzena Investment Management by 15.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 85,089 shares of the asset manager’s stock worth $784,000 after purchasing an additional 11,367 shares in the last quarter. Hedge funds and other institutional investors own 17.29% of the company’s stock.

Shares of Pzena Investment Management stock opened at $10.20 on Friday. Pzena Investment Management, Inc. has a 1-year low of $8.61 and a 1-year high of $13.15. The company has a market cap of $693.79 million, a PE ratio of 16.19 and a beta of 1.70.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.02. Pzena Investment Management had a net margin of 6.54% and a return on equity of 16.27%. The company had revenue of $39.58 million during the quarter, compared to the consensus estimate of $38.26 million. On average, research analysts forecast that Pzena Investment Management, Inc. will post 0.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Tuesday, October 30th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Monday, October 29th. Pzena Investment Management’s dividend payout ratio (DPR) is presently 19.05%.

A number of analysts have recently weighed in on PZN shares. Zacks Investment Research raised shares of Pzena Investment Management from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Thursday, October 18th. ValuEngine raised shares of Pzena Investment Management from a “strong sell” rating to a “sell” rating in a report on Thursday, August 23rd.

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

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