Pzena Investment Management, Inc. (PZN) Declares Dividend Increase – $0.49 Per Share

Pzena Investment Management, Inc. (NYSE:PZN) announced a quarterly dividend on Tuesday, January 29th, NASDAQ reports. Shareholders of record on Friday, February 15th will be paid a dividend of 0.49 per share by the asset manager on Friday, March 1st. This represents a $1.96 dividend on an annualized basis and a yield of 22.87%. The ex-dividend date is Thursday, February 14th. This is an increase from Pzena Investment Management’s previous quarterly dividend of $0.03.

Pzena Investment Management has raised its dividend payment by an average of 7.5% per year over the last three years. Pzena Investment Management has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Pzena Investment Management to earn $0.70 per share next year, which means the company should continue to be able to cover its $0.12 annual dividend with an expected future payout ratio of 17.1%.

PZN stock traded down $0.01 during trading on Friday, reaching $8.57. The company’s stock had a trading volume of 48,318 shares, compared to its average volume of 40,752. Pzena Investment Management has a 1 year low of $8.28 and a 1 year high of $11.58. The firm has a market capitalization of $593.90 million, a PE ratio of 11.13 and a beta of 1.17.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Tuesday, February 5th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Pzena Investment Management had a return on equity of 15.48% and a net margin of 8.98%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $36.79 million. Equities analysts anticipate that Pzena Investment Management will post 0.65 earnings per share for the current fiscal year.

PZN has been the subject of a number of analyst reports. ValuEngine upgraded Pzena Investment Management from a “sell” rating to a “hold” rating in a research note on Saturday, November 10th. Zacks Investment Research downgraded shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th.

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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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Dividend History for Pzena Investment Management (NYSE:PZN)

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