Pzena Investment Management (NYSE:PZN) Sees Large Volume Increase

Pzena Investment Management, Inc. (NYSE:PZNGet Rating) shares saw strong trading volume on Tuesday . 3,097 shares traded hands during mid-day trading, a decline of 95% from the previous session’s volume of 67,820 shares.The stock last traded at $9.58 and had previously closed at $9.59.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Friday, September 9th.

Pzena Investment Management Trading Up 0.1 %

The firm has a market cap of $708.61 million, a price-to-earnings ratio of 11.70 and a beta of 1.36. The firm has a 50 day moving average price of $9.02 and a 200-day moving average price of $7.77.

Pzena Investment Management Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in Pzena Investment Management by 3.1% in the 2nd quarter. Renaissance Technologies LLC now owns 794,150 shares of the asset manager’s stock valued at $5,233,000 after purchasing an additional 23,600 shares during the last quarter. Iat Reinsurance Co. LTD. acquired a new position in Pzena Investment Management in the 1st quarter valued at about $3,328,000. Brandywine Global Investment Management LLC raised its stake in Pzena Investment Management by 43.0% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 308,194 shares of the asset manager’s stock valued at $2,031,000 after purchasing an additional 92,642 shares during the last quarter. State Street Corp raised its stake in Pzena Investment Management by 1.4% in the 1st quarter. State Street Corp now owns 306,953 shares of the asset manager’s stock valued at $2,462,000 after purchasing an additional 4,097 shares during the last quarter. Finally, Rock Point Advisors LLC raised its stake in Pzena Investment Management by 17.7% in the 2nd quarter. Rock Point Advisors LLC now owns 291,490 shares of the asset manager’s stock valued at $1,921,000 after purchasing 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.

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