Royce & Associates LP Has $2,315,000 Stake in Manning & Napier, Inc. (MN)

Royce & Associates LP maintained its stake in shares of Manning & Napier, Inc. (NYSE:MN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 532,292 shares of the asset manager’s stock at the end of the 2nd quarter. Royce & Associates LP owned about 3.54% of Manning & Napier worth $2,315,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Renaissance Technologies LLC raised its stake in Manning & Napier by 1.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,080,600 shares of the asset manager’s stock worth $6,159,000 after acquiring an additional 17,500 shares in the last quarter. Mendon Capital Advisors Corp raised its stake in Manning & Napier by 268.1% during the 1st quarter. Mendon Capital Advisors Corp now owns 903,497 shares of the asset manager’s stock worth $5,150,000 after acquiring an additional 658,020 shares in the last quarter. RMB Capital Management LLC raised its stake in Manning & Napier by 1,749.1% during the 1st quarter. RMB Capital Management LLC now owns 360,975 shares of the asset manager’s stock worth $2,058,000 after acquiring an additional 341,453 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Manning & Napier by 7.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 282,525 shares of the asset manager’s stock worth $1,610,000 after acquiring an additional 19,721 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Manning & Napier by 89.8% during the 1st quarter. Geode Capital Management LLC now owns 244,615 shares of the asset manager’s stock worth $1,393,000 after acquiring an additional 115,749 shares in the last quarter. Hedge funds and other institutional investors own 57.25% of the company’s stock.

MN has been the topic of several research analyst reports. ValuEngine upgraded shares of Manning & Napier from a “hold” rating to a “buy” rating in a research note on Saturday, May 20th. Keefe, Bruyette & Woods upgraded shares of Manning & Napier from an “underperform” rating to a “market perform” rating and cut their price target for the stock from $5.25 to $4.50 in a research note on Wednesday, June 14th. Finally, Zacks Investment Research lowered shares of Manning & Napier from a “hold” rating to a “sell” rating in a research note on Thursday, July 20th.

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Manning & Napier, Inc. (MN) opened at 3.65 on Wednesday. The firm has a market capitalization of $55.04 million, a price-to-earnings ratio of 6.94 and a beta of 1.45. Manning & Napier, Inc. has a 1-year low of $3.00 and a 1-year high of $8.15. The firm has a 50-day moving average of $3.68 and a 200-day moving average of $4.74.

Manning & Napier (NYSE:MN) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.12 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.12. Manning & Napier had a net margin of 3.41% and a return on equity of 34.28%. The firm had revenue of $51.53 million for the quarter, compared to the consensus estimate of $50.22 million. During the same period in the prior year, the firm posted $0.17 EPS. The firm’s revenue was down 20.1% compared to the same quarter last year. On average, analysts expect that Manning & Napier, Inc. will post $0.46 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.32 dividend on an annualized basis and a yield of 8.77%. Manning & Napier’s dividend payout ratio (DPR) is 60.38%.

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.

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

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