PZN - PZN STOCK NEWS

Pzena Investment Management reported its preliminary assets under management (AUM) of $33.4 billion as of October 31, 2020, showing a slight increase from $33.3 billion in September 2020 but a significant decline from $36.6 billion in October 2019.

The breakdown includes Separately Managed Accounts at $13.2 billion, Sub-Advised Accounts at $18.1 billion, and Pzena Funds at $2.1 billion. Notably, U.S. Value Strategies decreased to $11.7 billion from $14.4 billion year-over-year, while Global & Non-U.S. Value Strategies slightly declined to $21.7 billion from $22.2 billion.

Pzena Investment Management (NYSE: PZN) reported Q3 2020 financial results with total assets under management reaching $33.3 billion. Revenue declined 8% to $33.9 million compared to Q3 2019. GAAP diluted earnings per share fell to $0.16 from $0.19 year-over-year. The Board declared a quarterly dividend of $0.03 per share. Despite an increase in average assets under management from the previous quarter, no performance fees were recorded in Q3 2020. Operating expenses decreased slightly to $19 million, reflecting lower general and administrative costs.

Pzena Investment Management, Inc. (PZN) reported preliminary assets under management (AUM) of $33.3 billion as of September 30, 2020, down from $35.2 billion in August 2020 and $35.8 billion a year ago. The decline in AUM is attributed to outflows and market depreciation. Separately Managed Accounts decreased to $13.3 billion, while Sub-Advised Accounts fell to $18 billion. Total inflows for the third quarter were $2.8 billion, overshadowed by $1.7 billion in outflows. Notably, U.S. Value Strategies decreased to $11.5 billion from $12.1 billion month-over-month.

Pzena Investment Management (NYSE: PZN) announced a conference call on October 21, 2020, at 10:00 a.m. ET to discuss its financial results and future outlook. This call will be accessible to the public, allowing investors to gain insights into the company’s performance. Details for joining the call via webcast and teleconference have been provided, with a replay available until November 4, 2020. Pzena emphasizes its value-oriented investment management approach, established since 1995, with a diverse, global client base.

Pzena Investment Management reported its preliminary assets under management (AUM) for August 2020, totaling $35.2 billion, a significant increase from $32.4 billion in July 2020 and $34.4 billion in August 2019. The firm saw growth in separately managed accounts, rising from $13.4 billion in July to $14.0 billion in August. Sub-advised accounts also increased to $19.0 billion. The AUM figures demonstrate Pzena's robust investment strategy amid challenging market conditions.

Pzena Investment Management (NYSE: PZN) reported preliminary assets under management (AUM) of $32.4 billion as of July 31, 2020, reflecting a $0.9 billion increase from June 2020's AUM of $31.5 billion. This marks a significant drop from the $36.5 billion reported in July 2019. The growth in AUM includes $13.4 billion from Separately Managed Accounts and $16.9 billion from Sub-Advised Accounts. Pzena continues to serve a diverse global client base.

Pzena Investment Management (NYSE: PZN) reported a 20% decline in revenue to $30.1 million for Q2 2020 compared to Q2 2019. GAAP diluted EPS increased to $0.13. The firm's assets under management dropped to $31.5 billion, with net inflows of $1.5 million. Operating expenses decreased to $19.2 million. The board declared a quarterly dividend of $0.03 per share, reflecting a total dividend of $0.55 over the past year. The operating margin was 36.4%, down from 46.4% year-over-year, mainly due to reduced revenue.

Pzena Investment Management (NYSE: PZN) will hold a conference call on July 29, 2020, at 10:00 a.m. ET to discuss its financial results and outlook. This call will be accessible to the public via a listen-only webcast on their website, with teleconference options for U.S. and international callers. A replay of the call will be available until August 12, 2020. Pzena is a value-oriented investment management firm, established in 1995, serving a diverse global client base.

Pzena Investment Management was appointed by St. James's Place PLC to manage 50% of its Global Value Fund, utilizing its Global Focused Value strategy, active since 2004. This appointment marks a significant milestone for Pzena, coinciding with its 25th anniversary and the 5th year since opening its London office. Pzena manages approximately $31.5 billion in assets globally, emphasizing its commitment to value investing amidst market uncertainties.