Manning and Napier Inc (MN) Upgraded to Hold by Zacks Investment Research

Manning and Napier Inc (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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. “

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Manning and Napier in a research note on Monday, February 13th.

Manning and Napier (NYSE:MN) opened at 5.40 on Tuesday. The company has a market cap of $81.01 million, a P/E ratio of 8.71 and a beta of 1.37. The firm has a 50-day moving average price of $6.40 and a 200 day moving average price of $7.15. Manning and Napier has a 12 month low of $5.20 and a 12 month high of $10.34.

Manning and Napier (NYSE:MN) last announced its earnings results on Thursday, February 9th. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. The company had revenue of $59.10 million for the quarter, compared to analyst estimates of $61.20 million. Manning and Napier had a return on equity of 38.85% and a net margin of 3.64%. The firm’s quarterly revenue was down 15.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.20 earnings per share. On average, equities analysts expect that Manning and Napier will post $0.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 14th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date is Tuesday, April 11th. Manning and Napier’s dividend payout ratio is currently 104.92%.

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Large investors have recently modified their holdings of the company. Bernzott Capital Advisors increased its stake in shares of Manning and Napier by 2.9% in the third quarter. Bernzott Capital Advisors now owns 1,390,299 shares of the company’s stock worth $9,857,000 after buying an additional 38,970 shares in the last quarter. RMB Capital Management LLC increased its stake in shares of Manning and Napier by 201.7% in the third quarter. RMB Capital Management LLC now owns 440,886 shares of the company’s stock worth $3,125,000 after buying an additional 294,766 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Manning and Napier by 2,121.2% in the third quarter. Acadian Asset Management LLC now owns 26,743 shares of the company’s stock worth $190,000 after buying an additional 25,539 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Manning and Napier during the third quarter worth about $288,000. Finally, Lombardia Capital Partners LLC increased its stake in shares of Manning and Napier by 82.0% in the third quarter. Lombardia Capital Partners LLC now owns 38,384 shares of the company’s stock worth $272,000 after buying an additional 17,291 shares in the last quarter. 74.68% of the stock is currently owned by institutional investors and hedge funds.

About Manning and 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.

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