Manning & Napier (MN) vs. Artisan Partners Asset Management (APAM) Head to Head Review

Artisan Partners Asset Management (NYSE: APAM) and Manning & Napier (NYSE:MN) are both small-cap finance companies, but which is the superior business? We will contrast the two companies based on the strength of their valuation, analyst recommendations, profitabiliy, risk, earnings, dividends and institutional ownership.

Analyst Ratings

This is a breakdown of current recommendations for Artisan Partners Asset Management and Manning & Napier, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Artisan Partners Asset Management 1 4 2 0 2.14
Manning & Napier 0 3 0 0 2.00

Artisan Partners Asset Management presently has a consensus price target of $29.50, indicating a potential downside of 4.84%. Manning & Napier has a consensus price target of $6.00, indicating a potential upside of 66.67%. Given Manning & Napier’s higher probable upside, analysts clearly believe Manning & Napier is more favorable than Artisan Partners Asset Management.

Profitability

This table compares Artisan Partners Asset Management and Manning & Napier’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Artisan Partners Asset Management 11.37% 78.75% 9.79%
Manning & Napier 3.41% 34.34% 20.67%

Earnings and Valuation

This table compares Artisan Partners Asset Management and Manning & Napier’s top-line revenue, earnings per share and valuation.

Gross Revenue Price/Sales Ratio EBITDA Earnings Per Share Price/Earnings Ratio
Artisan Partners Asset Management $745.86 million 2.07 $250.40 million $1.65 18.79
Manning & Napier $229.41 million 0.24 $80.47 million $0.53 6.79

Artisan Partners Asset Management has higher revenue and earnings than Manning & Napier. Manning & Napier is trading at a lower price-to-earnings ratio than Artisan Partners Asset Management, indicating that it is currently the more affordable of the two stocks.

Risk and Volatility

Artisan Partners Asset Management has a beta of 1.75, suggesting that its share price is 75% more volatile than the S&P 500. Comparatively, Manning & Napier has a beta of 1.4, suggesting that its share price is 40% more volatile than the S&P 500.

Dividends

Artisan Partners Asset Management pays an annual dividend of $2.40 per share and has a dividend yield of 7.7%. Manning & Napier pays an annual dividend of $0.32 per share and has a dividend yield of 8.9%. Artisan Partners Asset Management pays out 145.5% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Manning & Napier pays out 60.4% of its earnings in the form of a dividend. Manning & Napier is clearly the better dividend stock, given its higher yield and lower payout ratio.

Insider and Institutional Ownership

96.2% of Artisan Partners Asset Management shares are held by institutional investors. Comparatively, 70.9% of Manning & Napier shares are held by institutional investors. 30.0% of Artisan Partners Asset Management shares are held by insiders. Comparatively, 1.9% of Manning & Napier shares are held by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company will outperform the market over the long term.

Summary

Artisan Partners Asset Management beats Manning & Napier on 12 of the 16 factors compared between the two stocks.

About Artisan Partners Asset Management

Artisan Partners Asset Management Inc. is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles. The Company offers its investment management services primarily to institutions and through intermediaries that operate with institutional-like decision-making processes and have long-term investment horizons. The Company provides clients with multiple equity investment strategies spanning market capitalization segments and investing styles in both the United States and non-United States markets. The Company also offers one fixed income strategy, the Artisan High Income strategy. Each strategy is managed by one of the investment teams.

About Manning & 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. It offers equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds. It serves a client base of high net worth individuals and institutions, including 401(k) plans, pension plans, Taft-Hartley plans (Taft-Hartley), endowments and foundations. It offers its investment management capabilities through direct sales to high net worth individuals and institutions, as well as through third-party intermediaries, platforms and institutional investment consultants. Its investment management offerings include approximately 40 separate account composites, and over 60 mutual funds and collective investment trusts.

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