Victory Capital Management Inc. held its position in Manning & Napier Inc. (NYSE:MN) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 61,800 shares of the company’s stock at the end of the second quarter. Victory Capital Management Inc. owned approximately 0.41% of Manning & Napier worth $587,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in shares of Manning & Napier by 7.4% in the second quarter. Advisors Asset Management Inc. now owns 15,664 shares of the company’s stock worth $149,000 after buying an additional 1,077 shares during the period. Bank of Montreal Can bought a new stake in shares of Manning & Napier during the second quarter worth about $159,000. Ngam Advisors L.P. bought a new stake in shares of Manning & Napier during the first quarter worth about $261,000. Spark Investment Management LLC boosted its stake in shares of Manning & Napier by 100.6% in the first quarter. Spark Investment Management LLC now owns 34,900 shares of the company’s stock worth $281,000 after buying an additional 17,500 shares during the period. Finally, California State Teachers Retirement System bought a new stake in shares of Manning & Napier during the second quarter worth about $298,000. Institutional investors own 77.41% of the company’s stock.
Manning & Napier Inc. (NYSE:MN) traded down 0.43% during mid-day trading on Thursday, hitting $6.99. The company’s stock had a trading volume of 8,882 shares. Manning & Napier Inc. has a 52-week low of $5.60 and a 52-week high of $10.34. The company’s 50 day moving average is $7.56 and its 200-day moving average is $8.35. The stock has a market cap of $105.07 million, a P/E ratio of 9.21 and a beta of 1.38.
Manning & Napier (NYSE:MN) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by $0.01. The business earned $67.54 million during 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 business’s revenue was down 22.3% on a year-over-year basis. During the same period last year, the company earned $0.24 EPS. On average, equities analysts predict that Manning & Napier Inc. will post $0.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 9.12%. Manning & Napier’s dividend payout ratio is currently 87.67%.
MN has been the topic of a number of recent research reports. Zacks Investment Research raised Manning & Napier from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Keefe, Bruyette & Woods dropped their price objective on Manning & Napier from $9.25 to $8.75 and set a “market perform” rating on the stock in a report on Friday, July 29th. Finally, Credit Suisse Group AG initiated coverage on Manning & Napier in a report on Thursday, July 14th. They set a “neutral” rating and a $9.00 price objective on the stock. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $8.08.
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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