Manning & Napier, Inc. (MN) Stake Cut by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its position in Manning & Napier, Inc. (NYSE:MN) by 60.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,025 shares of the asset manager’s stock after selling 27,379 shares during the period. Russell Investments Group Ltd. owned 0.12% of Manning & Napier worth $103,000 as of its most recent SEC filing.

Separately, Teachers Advisors LLC increased its position in Manning & Napier by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 26,402 shares of the asset manager’s stock worth $199,000 after buying an additional 3,312 shares in the last quarter. 70.25% of the stock is owned by hedge funds and other institutional investors.

Shares of Manning & Napier, Inc. (NYSE MN) opened at 4.15 on Tuesday. The stock has a 50 day moving average of $4.53 and a 200 day moving average of $5.98. The firm has a market cap of $62.47 million, a price-to-earnings ratio of 7.06 and a beta of 1.41. Manning & Napier, Inc. has a 52-week low of $3.85 and a 52-week high of $9.64.

Manning & Napier (NYSE:MN) last posted its earnings results on Wednesday, May 3rd. The asset manager reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $55.50 million during the quarter, compared to analyst estimates of $54.55 million. Manning & Napier had a net margin of 3.57% and a return on equity of 37.47%. Manning & Napier’s revenue was down 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 earnings per share. Equities analysts predict that Manning & Napier, Inc. will post $0.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date of this dividend is Wednesday, July 12th. Manning & Napier’s dividend payout ratio (DPR) is presently 55.17%.

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A number of research firms have weighed in on MN. Keefe, Bruyette & Woods reaffirmed a “sell” rating and set a $6.00 price target on shares of Manning & Napier in a research note on Monday, April 10th. Zacks Investment Research raised shares of Manning & Napier from a “sell” rating to a “hold” rating in a research note on Tuesday, March 28th. Finally, ValuEngine downgraded shares of Manning & Napier from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a hold rating, Manning & Napier has an average rating of “Hold” and a consensus price target of $6.25.

Manning & Napier Company Profile

Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.

Institutional Ownership by Quarter for Manning & Napier (NYSE:MN)

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