Great Lakes Advisors LLC cut its holdings in Pzena Investment Management, Inc (NYSE:PZN – Get Rating ) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,940 shares of the asset manager’s stock after selling 8,048 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.28% of Pzena Investment Management worth $1,668,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of PZN. Boston Partners purchased a new stake in shares of Pzena Investment Management during the 4th quarter valued at $3,005,000. Monarch Partners Asset Management LLC boosted its position in shares of Pzena Investment Management by 20.0% in the first quarter. Monarch Partners Asset Management LLC now owns 263,210 shares of the asset manager’s stock valued at $2,111,000 after purchasing an additional 43,812 shares during the last quarter. Rock Point Advisors LLC boosted its position in shares of Pzena Investment Management by 2.5% in the 4th quarter. Rock Point Advisors LLC now owns 240,680 shares of the asset manager’s stock valued at $2,279,000 after buying an additional 5,955 shares during the last quarter. Los Angeles Capital Management LLC boosted its stake in Pzena Investment Management by 24.7% in the 4th quarter. Los Angeles Capital Management LLC now owns 136,777 shares of the asset manager’s stock valued at $1,295,000 after buying an additional 27,114 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in Pzena Investment Management in the 4th quarter valued at $700,000. 14.54% of the stock is owned by institutional investors and hedge funds.
Pzena Investment Management Trading up 0.1%
Shares of NYSE PZN opened at $9.49 on Monday. The firm has a market cap of $701.24 million, a PE ratio of 11.57 and a beta of 1.39. Pzena Investment Management, Inc has a 1 year low of $6.07 and a 1 year high of $11.75. The company has a fifty day moving average price of $7.11 and a 200 day moving average price of $7.71.
Dividend announcement from Pzena Investment Management
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 5th will be paid a dividend of $0.03 per share. The ex-dividend date is Thursday, August 4th. This represents an annualized dividend of $0.12 and a dividend yield of 1.26%. Pzena Investment Management’s dividend payout ratio is 14.63%.
Analysts set new price targets
Separately, StockNews.com lowered shares of Pzena Investment Management from a “strong-buy” rating to a “buy” rating in a research note on Friday.
Pzena Investment Management Profile
Pzena Investment Management, Inc is an employee-owned investment manager. The firm manages equity mutual funds for its clients. Invests in public equity markets. The firm provides its services to individuals, high net worth individuals, investment companies, pooled investment companies, charitable organizations, pension and profit sharing plans, state or municipal government organizations, charitable organizations, other investment advisors, insurance companies, government investment funds and foreign official institutions, corporations or other enterprises.
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