Pzena Investment Management (NYSE:PZN) Sees Unusually-High Trading Volume

Pzena Investment Management, Inc. (NYSE:PZNGet Rating) shares saw unusually-high trading volume on Friday . Approximately 7,228 shares changed hands during trading, a decline of 89% from the previous session’s volume of 66,749 shares.The stock last traded at $9.58 and had previously closed at $9.58.

Analysts Set New Price Targets

Separately, StockNews.com cut Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Friday.

Pzena Investment Management Stock Up 0.1 %

The company has a 50 day moving average of $8.56 and a 200 day moving average of $7.72. The firm has a market cap of $708.61 million, a price-to-earnings ratio of 11.70 and a beta of 1.36.

Pzena Investment Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, August 4th. Pzena Investment Management’s dividend payout ratio (DPR) is 14.63%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PZN. Iat Reinsurance Co. LTD. bought a new stake in Pzena Investment Management in the first quarter valued at about $3,328,000. Gabelli Funds LLC increased its holdings in Pzena Investment Management by 206.3% in the first quarter. Gabelli Funds LLC now owns 195,387 shares of the asset manager’s stock valued at $1,567,000 after buying an additional 131,594 shares during the last quarter. Brandywine Global Investment Management LLC increased its holdings in Pzena Investment Management by 43.0% in the second quarter. Brandywine Global Investment Management LLC now owns 308,194 shares of the asset manager’s stock valued at $2,031,000 after buying an additional 92,642 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in Pzena Investment Management by 47.0% in the second quarter. Gamco Investors INC. ET AL now owns 188,500 shares of the asset manager’s stock valued at $1,242,000 after buying an additional 60,291 shares during the last quarter. Finally, Rock Point Advisors LLC increased its holdings in Pzena Investment Management by 17.7% in the second quarter. Rock Point Advisors LLC now owns 291,490 shares of the asset manager’s stock valued at $1,921,000 after buying an additional 43,835 shares during the last quarter. Institutional investors and hedge funds own 14.93% of the company’s stock.

About Pzena Investment Management

(Get Rating)

Pzena Investment Management, Inc is a employee owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. The firm provides its services to Individuals, high net worth individuals, investment companies, pooled investment vehicles, charitable organizations, pension and profit sharing plans, state or municipal government entities, charitable organizations, other investment advisers, insurance companies, sovereign wealth funds and foreign official institutions, corporations or other businesses.

Further Reading

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