Shares of Manning & Napier Inc. (NYSE:MN) have earned a consensus recommendation of “Hold” from the seven ratings firms that are covering the stock. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $7.95.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Manning & Napier from a “sell” rating to a “hold” rating in a research note on Friday, September 16th. Credit Suisse Group AG restated a “hold” rating and issued a $8.00 price objective on shares of Manning & Napier in a research note on Thursday, September 1st. Finally, Keefe, Bruyette & Woods lowered their price objective on Manning & Napier from $9.25 to $8.75 and set a “market perform” rating on the stock in a research note on Friday, July 29th.
A number of hedge funds and other institutional investors have recently bought and sold shares of MN. Rhumbline Advisers bought a new position in Manning & Napier during the second quarter worth $112,000. Deere & Co. acquired a new position in shares of Manning & Napier during the second quarter valued at approximately $122,000. Hancock Holding Co. acquired a new position in shares of Manning & Napier during the second quarter valued at approximately $126,000. Martingale Asset Management L P acquired a new position in shares of Manning & Napier during the second quarter valued at approximately $127,000. Finally, Prudential Financial Inc. raised its position in shares of Manning & Napier by 5.7% in the second quarter. Prudential Financial Inc. now owns 13,400 shares of the company’s stock valued at $128,000 after buying an additional 723 shares during the last quarter. 77.41% of the stock is owned by institutional investors and hedge funds.
Manning & Napier (NYSE:MN) traded down 2.36% during trading on Thursday, hitting $7.46. 25,840 shares of the company’s stock traded hands. The company’s 50 day moving average price is $7.44 and its 200 day moving average price is $8.35. The company has a market cap of $112.14 million, a PE ratio of 9.83 and a beta of 1.39. Manning & Napier has a 52-week low of $5.60 and a 52-week high of $10.34.
Manning & Napier (NYSE:MN) last released its earnings results on Wednesday, July 27th. The company reported $0.17 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $67.54 million for the quarter, compared to the consensus estimate of $65.81 million. Manning & Napier had a return on equity of 46.49% and a net margin of 4.04%. The company’s revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. Analysts expect that Manning & Napier will post $0.70 earnings per share for the current 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 issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date is Wednesday, October 12th. Manning & Napier’s payout ratio is presently 87.67%.
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.
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