Pzena Investment Management (PZN) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Pzena Investment Management (NYSE:PZN) announced its quarterly earnings results on Tuesday. The asset manager reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02, Bloomberg Earnings reports. The company had revenue of $38.91 million during the quarter. Pzena Investment Management had a return on equity of 12.92% and a net margin of 14.41%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.

Pzena Investment Management (PZN) traded up $0.07 during trading on Tuesday, hitting $11.28. The stock had a trading volume of 55,877 shares, compared to its average volume of 57,791. The stock has a market capitalization of $831.38, a PE ratio of 15.89 and a beta of 1.77. Pzena Investment Management has a 1-year low of $8.25 and a 1-year high of $13.15.

Separately, Zacks Investment Research cut Pzena Investment Management from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st.

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position 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 buying an additional 3,603 shares in the last quarter. California State Teachers Retirement System increased its position 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 buying an additional 500 shares in the last quarter. Finally, State Street Corp increased its position in shares of Pzena Investment Management by 5.4% in the second quarter. State Street Corp now owns 230,170 shares of the asset manager’s stock valued at $2,338,000 after buying an additional 11,855 shares in the last quarter. Institutional investors and hedge funds own 17.70% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Pzena Investment Management (PZN) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/06/pzena-investment-management-pzn-announces-quarterly-earnings-results-beats-estimates-by-0-02-eps.html.

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.

Earnings History for Pzena Investment Management (NYSE:PZN)

Receive News & Ratings for Pzena Investment Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pzena Investment Management and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply