ValuEngine upgraded shares of Manning and Napier (NYSE:MN) from a strong sell rating to a sell rating in a research report report published on Monday morning.
Separately, Zacks Investment Research raised shares of Manning and Napier from a sell rating to a hold rating in a research note on Wednesday, September 12th.
Manning and Napier stock traded down $0.02 on Monday, reaching $2.28. 8,573 shares of the stock were exchanged, compared to its average volume of 71,083. The firm has a market cap of $29.13 million, a price-to-earnings ratio of 5.70 and a beta of 1.20. Manning and Napier has a twelve month low of $1.65 and a twelve month high of $4.35.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Shareholders of record on Tuesday, January 15th will be given a dividend of $0.02 per share. The ex-dividend date is Monday, January 14th. This represents a $0.08 annualized dividend and a yield of 3.51%. Manning and Napier’s payout ratio is presently 80.00%.
A number of institutional investors have recently made changes to their positions in the business. Millennium Management LLC lifted its position in Manning and Napier by 37.4% during the second quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock valued at $673,000 after purchasing an additional 59,067 shares during the last quarter. Wagner Bowman Management Corp bought a new stake in Manning and Napier during the third quarter valued at approximately $193,000. Bridgeway Capital Management Inc. lifted its position in Manning and Napier by 91.7% during the third quarter. Bridgeway Capital Management Inc. now owns 219,500 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 105,000 shares during the last quarter. Ancora Advisors LLC lifted its position in Manning and Napier by 57.5% during the third quarter. Ancora Advisors LLC now owns 400,000 shares of the asset manager’s stock valued at $1,180,000 after purchasing an additional 146,000 shares during the last quarter. Finally, Virginia National Bank bought a new stake in Manning and Napier during the third quarter valued at approximately $1,192,000. Institutional investors and hedge funds own 48.60% of the company’s stock.
About Manning and Napier
Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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