Patria Investments Limited (NYSE:PAX) to Issue Quarterly Dividend of $0.20

Patria Investments Limited (NYSE:PAX) declared a quarterly dividend on Wednesday, November 1st, Wall Street Journal reports. Shareholders of record on Wednesday, November 22nd will be paid 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 is Tuesday, November 21st.

Patria Investments has a payout ratio of 61.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of Patria Investments stock opened at $14.29 on Friday. Patria Investments has a fifty-two week low of $12.81 and a fifty-two week high of $17.46. The firm has a 50-day simple moving average of $14.05 and a two-hundred day simple moving average of $14.60. The company has a market cap of $775.20 million, a P/E ratio of 17.64, a price-to-earnings-growth ratio of 0.65 and a beta of 0.49.

Patria Investments (NYSE:PAX) last released its quarterly 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 return on equity of 33.78% and a net margin of 39.10%. The company had revenue of $63.50 million for the quarter, compared to analyst estimates of $78.98 million. During the same quarter last year, the company earned $0.20 EPS. Equities research analysts forecast that Patria Investments will post 1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Patria Investments

A number of hedge funds have recently bought and sold shares of the business. Sei Investments Co. raised its holdings in Patria Investments by 5.9% in the 3rd quarter. Sei Investments Co. now owns 180,121 shares of the company’s stock valued at $2,626,000 after acquiring an additional 10,063 shares during the last quarter. Legal & General Group Plc raised its holdings in Patria Investments by 278.0% in the 3rd quarter. Legal & General Group Plc now owns 8,403 shares of the company’s stock valued at $123,000 after acquiring an additional 6,180 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Patria Investments in the 3rd quarter valued at about $115,000. Northern Trust Corp raised its holdings in Patria Investments by 2.5% in the 3rd quarter. Northern Trust Corp now owns 482,169 shares of the company’s stock valued at $7,030,000 after acquiring an additional 11,956 shares during the last quarter. Finally, Mariner LLC acquired a new stake in Patria Investments in the 3rd quarter valued at about $147,000. Institutional investors and hedge funds own 96.27% of the company’s stock.

Patria Investments Company Profile

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.