Manning and Napier (NYSE:MN) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Manning and Napier (NYSE:MN) from a hold rating to a sell rating in a research note released on Thursday morning, Zacks.com reports.

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. “

Shares of NYSE MN opened at $1.68 on Thursday. Manning and Napier has a 1-year low of $1.45 and a 1-year high of $2.88. The business has a fifty day moving average price of $1.71 and a 200 day moving average price of $1.79. The stock has a market capitalization of $25.89 million, a P/E ratio of 11.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.11 and a quick ratio of 5.11.

Manning and Napier (NYSE:MN) last posted its earnings results on Thursday, October 31st. The asset manager reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $34.18 million for the quarter, compared to analyst estimates of $34.34 million. Manning and Napier had a return on equity of 7.97% and a net margin of 1.59%. As a group, equities research analysts anticipate that Manning and Napier will post 0.16 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date is Tuesday, January 14th. Manning and Napier’s dividend payout ratio is currently 36.36%.

A number of institutional investors and hedge funds have recently made changes to their positions in MN. Millennium Management LLC grew its holdings in Manning and Napier by 90.5% in the third quarter. Millennium Management LLC now owns 210,516 shares of the asset manager’s stock worth $395,000 after purchasing an additional 100,001 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Manning and Napier by 30.1% during the third quarter. Ancora Advisors LLC now owns 790,000 shares of the asset manager’s stock worth $1,485,000 after purchasing an additional 183,000 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Manning and Napier by 1.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,217,699 shares of the asset manager’s stock valued at $2,131,000 after purchasing an additional 13,200 shares during the last quarter. Institutional investors own 43.99% of the company’s stock.

About Manning and Napier

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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