Manning and Napier Inc (NYSE:MN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Several other equities research analysts have also commented on the company. Needham & Company LLC restated a “hold” rating on shares of Manning and Napier in a research report on Monday, February 13th. Keefe, Bruyette & Woods restated a “sell” rating and set a $6.00 target price on shares of Manning and Napier in a research report on Monday, April 10th.
Shares of Manning and Napier (NYSE:MN) opened at 5.60 on Wednesday. The stock’s 50 day moving average price is $5.73 and its 200 day moving average price is $6.86. Manning and Napier has a one year low of $5.20 and a one year high of $10.34. The company has a market cap of $83.90 million, a PE ratio of 9.03 and a beta of 1.37.
Manning and Napier (NYSE:MN) last released its quarterly earnings results on Thursday, February 9th. The asset manager reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16. Manning and Napier had a return on equity of 38.85% and a net margin of 3.64%. The firm had revenue of $59.10 million for the quarter, compared to analyst estimates of $61.20 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s revenue was down 15.6% on a year-over-year basis. Equities analysts predict that Manning and Napier will post $0.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 14th will be given a dividend of $0.08 per share. The ex-dividend date is Tuesday, April 11th. This represents a $0.32 annualized dividend and a dividend yield of 5.71%. Manning and Napier’s payout ratio is 104.92%.
Large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Manning and Napier during the fourth quarter valued at approximately $350,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of Manning and Napier during the third quarter valued at approximately $288,000. Bernzott Capital Advisors raised its stake in shares of Manning and Napier by 2.9% in the third quarter. Bernzott Capital Advisors now owns 1,390,299 shares of the asset manager’s stock valued at $9,857,000 after buying an additional 38,970 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Manning and Napier by 2,121.2% in the third quarter. Acadian Asset Management LLC now owns 26,743 shares of the asset manager’s stock valued at $190,000 after buying an additional 25,539 shares during the last quarter. Finally, Lombardia Capital Partners LLC raised its stake in shares of Manning and Napier by 82.0% in the third quarter. Lombardia Capital Partners LLC now owns 38,384 shares of the asset manager’s stock valued at $272,000 after buying an additional 17,291 shares during the last quarter. Institutional investors own 74.68% of the company’s stock.
About Manning and Napier
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.
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