Manning & Napier, Inc. (MN) Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of Manning & Napier, Inc. (NYSE:MN) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,200 shares of the asset manager’s stock after selling 469 shares during the quarter. Royal Bank of Canada owned 0.46% of Manning & Napier worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in Manning & Napier by 89.8% in the first quarter. Geode Capital Management LLC now owns 244,615 shares of the asset manager’s stock worth $1,393,000 after buying an additional 115,749 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in Manning & Napier in the second quarter worth $382,000. Municipal Employees Retirement System of Michigan increased its position in Manning & Napier by 58.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 216,480 shares of the asset manager’s stock worth $942,000 after buying an additional 79,900 shares during the last quarter. Menta Capital LLC increased its position in Manning & Napier by 38.7% in the second quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock worth $1,135,000 after buying an additional 72,840 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Manning & Napier by 23.2% in the second quarter. Dimensional Fund Advisors LP now owns 348,155 shares of the asset manager’s stock worth $1,514,000 after buying an additional 65,630 shares during the last quarter. 56.87% of the stock is owned by institutional investors.

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A number of research firms have issued reports on MN. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $4.00 target price on shares of Manning & Napier in a research report on Friday, November 10th. ValuEngine raised Manning & Napier from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded Manning & Napier from a “buy” rating to a “hold” rating in a research report on Saturday, November 4th.

Manning & Napier, Inc. (NYSE MN) opened at $3.85 on Friday. The firm has a market capitalization of $58.05, a price-to-earnings ratio of 7.55, a PEG ratio of 1.08 and a beta of 1.53. Manning & Napier, Inc. has a 52-week low of $3.00 and a 52-week high of $8.15.

Manning & Napier (NYSE:MN) last announced its quarterly earnings results on Wednesday, November 1st. The asset manager reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The company had revenue of $48.84 million during the quarter, compared to analysts’ expectations of $47.52 million. Manning & Napier had a net margin of 3.30% and a return on equity of 30.20%. Manning & Napier’s revenue for the quarter was down 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. analysts expect that Manning & Napier, Inc. will post 0.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Monday, January 15th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 8.31%. The ex-dividend date is Thursday, January 11th. Manning & Napier’s dividend payout ratio (DPR) is presently 66.67%.

Manning & Napier Company Profile

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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