Zacks Investment Research upgraded shares of Manning and Napier (NYSE:MN) from a sell rating to a hold rating in a report issued on Wednesday morning.
According to Zacks, “Manning & Napier, Inc. operates as an investment advisor engaged in managing corporate and union pension and annuity funds, endowment funds, foundations, profit sharing plans and benefit plans. It offers equity and fixed income portfolios and a range of blended asset portfolios. The Company offers investment solutions through separately managed accounts, mutual funds, and collective investment trust funds. Manning & Napier, Inc. is headquartered in Fairport, New York. “
Separately, ValuEngine lowered shares of Manning and Napier from a hold rating to a sell rating in a research report on Friday, September 21st.
Shares of NYSE MN opened at $2.90 on Wednesday. Manning and Napier has a 12-month low of $2.55 and a 12-month high of $4.35. The stock has a market capitalization of $42.17 million, a price-to-earnings ratio of 7.25 and a beta of 1.25.
Manning and Napier (NYSE:MN) last posted its quarterly earnings data on Tuesday, July 31st. The asset manager reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $41.12 million during the quarter, compared to analyst estimates of $40.52 million. Manning and Napier had a net margin of 1.12% and a return on equity of 15.05%. equities research analysts expect that Manning and Napier will post 0.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Monday, October 15th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 11.03%. The ex-dividend date of this dividend is Friday, October 12th. Manning and Napier’s dividend payout ratio is presently 80.00%.
Large investors have recently bought and sold shares of the company. Millennium Management LLC raised its position in shares of Manning and Napier by 37.4% in the second quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock valued at $673,000 after buying an additional 59,067 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Manning and Napier by 13.4% in the first quarter. Ancora Advisors LLC now owns 212,000 shares of the asset manager’s stock valued at $742,000 after buying an additional 25,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Manning and Napier by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 447,699 shares of the asset manager’s stock valued at $1,567,000 after buying an additional 30,718 shares during the last quarter. 51.46% of the stock is owned by institutional investors and hedge funds.
Manning and Napier Company Profile
Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.
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