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. “
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group AG reiterated a hold rating and issued a $8.00 target price on shares of Manning & Napier in a research report on Thursday, September 1st. Keefe, Bruyette & Woods cut their price objective on shares of Manning & Napier from $9.25 to $8.75 and set a market perform rating for the company in a research report on Friday, July 29th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Manning & Napier currently has an average rating of Hold and a consensus price target of $8.08.
Manning & Napier (NYSE:MN) opened at 7.34 on Thursday. The company has a market cap of $110.33 million, a P/E ratio of 9.67 and a beta of 1.40. Manning & Napier has a 52 week low of $5.60 and a 52 week high of $10.34. The firm’s 50 day moving average is $7.46 and its 200-day moving average is $8.35.
Manning & Napier (NYSE:MN) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. The company had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $65.81 million. Manning & Napier had a net margin of 4.04% and a return on equity of 46.49%. The business’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. On average, analysts predict that Manning & Napier will post $0.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 14th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 8.72%. The ex-dividend date is Wednesday, October 12th. Manning & Napier’s dividend payout ratio (DPR) is presently 87.67%.
A number of hedge funds and other institutional investors have recently made changes to their positions in MN. BlackRock Fund Advisors raised its position in shares of Manning & Napier by 914.5% in the second quarter. BlackRock Fund Advisors now owns 385,801 shares of the company’s stock valued at $3,665,000 after buying an additional 347,771 shares during the period. State Street Corp bought a new position in shares of Manning & Napier during the second quarter valued at $1,299,000. PARK CIRCLE Co raised its position in shares of Manning & Napier by 227.4% in the second quarter. PARK CIRCLE Co now owns 147,000 shares of the company’s stock valued at $1,397,000 after buying an additional 102,100 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Manning & Napier by 26.3% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 482,500 shares of the company’s stock valued at $4,584,000 after buying an additional 100,353 shares during the period. Finally, Algert Global LLC raised its position in shares of Manning & Napier by 107.5% in the second quarter. Algert Global LLC now owns 123,326 shares of the company’s stock valued at $1,172,000 after buying an additional 63,879 shares during the period. 77.41% of the stock is owned by institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Manning & Napier Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manning & Napier Inc. and related companies with MarketBeat.com's FREE daily email newsletter.