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. “
Several other equities research analysts have also recently issued reports on MN. Credit Suisse Group AG started 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. Keefe, Bruyette & Woods cut their target price on Manning & Napier from $9.25 to $8.75 and set a market perform rating on the stock in a research report on Friday, July 29th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Manning & Napier currently has a consensus rating of Hold and a consensus target price of $8.08.
Manning & Napier (NYSE:MN) traded up 1.73% on Thursday, hitting $7.04. The stock had a trading volume of 9,189 shares. The stock has a market cap of $105.83 million, a P/E ratio of 9.28 and a beta of 1.38. Manning & Napier has a one year low of $5.60 and a one year high of $10.34. The company’s 50-day moving average is $7.53 and its 200-day moving average is $8.34.
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 consensus estimate of $0.18 by $0.01. Manning & Napier had a return on equity of 46.49% and a net margin of 4.04%. The business had revenue of $67.54 million for the quarter, compared to analyst estimates of $65.81 million. During the same quarter last year, the business earned $0.24 EPS. Manning & Napier’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, analysts anticipate that Manning & Napier will post $0.71 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 14th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 9.25%. The ex-dividend date of this dividend 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 added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in Manning & Napier during the second quarter valued at approximately $112,000. Deere & Co. bought a new position in Manning & Napier during the second quarter valued at approximately $122,000. Hancock Holding Co. bought a new position in Manning & Napier during the second quarter valued at approximately $126,000. Martingale Asset Management L P bought a new position in Manning & Napier during the second quarter valued at approximately $127,000. Finally, Prudential Financial Inc. raised its position in 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 period. 77.41% of the stock is currently owned by institutional investors.
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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