Pzena Investment Management, Inc. (NYSE:PZN) declared a quarterly dividend on Tuesday, January 29th, NASDAQ reports. Shareholders of record on Friday, February 15th will be given 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 of this dividend is Thursday, February 14th. This is a positive change 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 dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Research 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%.
Pzena Investment Management stock traded down $0.01 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. The firm has a market cap of $593.90 million, a P/E ratio of 11.13 and a beta of 1.17. Pzena Investment Management has a twelve month low of $8.28 and a twelve month high of $11.58.
A number of research firms have commented on PZN. Zacks Investment Research lowered Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. ValuEngine lowered Pzena Investment Management from a “hold” rating to a “sell” rating in a research note on Friday, January 11th.
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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