Patria Investments Limited (NYSE:PAX) Plans $0.20 Quarterly Dividend

Patria Investments Limited (NYSE:PAX) announced a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Stockholders of record on Wednesday, November 22nd will be given a dividend of 0.199 per share on Friday, December 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Tuesday, November 21st.

Patria Investments has a payout ratio of 61.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Patria Investments to earn $1.50 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 53.3%.

Patria Investments Trading Up 1.9 %

PAX stock opened at $14.29 on Monday. Patria Investments has a 12-month low of $12.81 and a 12-month high of $17.46. The business’s 50-day moving average is $14.05 and its 200 day moving average is $14.60. The stock has a market cap of $775.20 million, a price-to-earnings ratio of 17.64, a PEG ratio of 0.65 and a beta of 0.49.

Patria Investments (NYSE:PAX) last released its earnings results on Tuesday, November 7th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.07). Patria Investments had a net margin of 39.10% and a return on equity of 33.78%. The firm had revenue of $63.50 million during the quarter, compared to analysts’ expectations of $78.98 million. During the same quarter last year, the business earned $0.20 EPS. As a group, equities analysts forecast that Patria Investments will post 1.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised their price target on shares of Patria Investments from $16.00 to $17.00 in a research note on Monday, October 2nd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP raised its position in shares of Patria Investments by 244.3% during the 2nd quarter. Quarry LP now owns 1,763 shares of the company’s stock valued at $25,000 after buying an additional 1,251 shares during the period. Osaic Holdings Inc. raised its position in Patria Investments by 50.0% in the second quarter. Osaic Holdings Inc. now owns 2,700 shares of the company’s stock valued at $39,000 after purchasing an additional 900 shares during the period. Bank of America Corp DE lifted its stake in shares of Patria Investments by 1,306.5% in the 1st quarter. Bank of America Corp DE now owns 2,813 shares of the company’s stock valued at $42,000 after purchasing an additional 2,613 shares during the last quarter. Citigroup Inc. purchased a new position in shares of Patria Investments during the 1st quarter worth $52,000. Finally, Royal Bank of Canada increased its position in shares of Patria Investments by 50.1% during the 3rd quarter. Royal Bank of Canada now owns 3,001 shares of the company’s stock worth $39,000 after purchasing an additional 1,001 shares during the last quarter. Institutional investors and hedge funds own 96.27% of the company’s stock.

About Patria Investments

Patria Investments Limited operates as a private market investment firm focused on investing in Latin America. The company offers asset management services to investors focusing on private equity funds, infrastructure development funds, co-investments funds, constructivist equity funds, and real estate and credit funds.