Northern Trust Corp raised its stake in Pzena Investment Management, Inc. (NYSE:PZN) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239,003 shares of the asset manager’s stock after purchasing an additional 7,126 shares during the quarter. Northern Trust Corp owned approximately 0.34% of Pzena Investment Management worth $2,053,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Acadian Asset Management LLC bought a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $151,000. Chicago Equity Partners LLC bought a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $153,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $182,000. Prudential Financial Inc. bought a new position in shares of Pzena Investment Management during the 2nd quarter worth approximately $226,000. Finally, Swiss National Bank boosted its stake in shares of Pzena Investment Management by 9.9% during the 2nd quarter. Swiss National Bank now owns 32,200 shares of the asset manager’s stock worth $277,000 after acquiring an additional 2,900 shares during the period. Hedge funds and other institutional investors own 17.33% of the company’s stock.
Several brokerages have recently commented on PZN. Zacks Investment Research downgraded Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. ValuEngine upgraded Pzena Investment Management from a “sell” rating to a “hold” rating in a research note on Friday, October 4th.
Pzena Investment Management (NYSE:PZN) last issued its earnings results on Wednesday, July 17th. The asset manager reported $0.18 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.18. Pzena Investment Management had a return on equity of 14.67% and a net margin of 8.77%. The company had revenue of $37.84 million during the quarter, compared to the consensus estimate of $39.13 million.
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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