Manning and Napier (MN) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Manning and Napier (NYSE:MN) from a buy rating to a hold rating in a research report report published on Wednesday morning.

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, Keefe, Bruyette & Woods reissued a hold rating and issued a $4.00 price objective on shares of Manning and Napier in a report on Friday, November 10th.

Manning and Napier (NYSE:MN) remained flat at $$4.15 during midday trading on Wednesday. The company’s stock had a trading volume of 72,149 shares, compared to its average volume of 93,556. The company has a market capitalization of $62.42, a P/E ratio of 8.65, a PEG ratio of 1.60 and a beta of 1.52. Manning and Napier has a 1-year low of $3.00 and a 1-year high of $7.64.

Manning and Napier (NYSE:MN) last announced its quarterly earnings data on Wednesday, November 1st. The asset manager reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manning and Napier had a return on equity of 30.20% and a net margin of 3.30%. The firm had revenue of $48.84 million during the quarter, compared to analysts’ expectations of $47.52 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue was down 22.9% compared to the same quarter last year. equities research analysts anticipate that Manning and Napier will post 0.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.71%. The ex-dividend date of this dividend is Thursday, January 11th. Manning and Napier’s dividend payout ratio (DPR) is currently 66.67%.

Hedge funds have recently bought and sold shares of the business. Brandes Investment Partners LP grew its holdings in Manning and Napier by 81.8% during the 3rd quarter. Brandes Investment Partners LP now owns 31,829 shares of the asset manager’s stock valued at $126,000 after buying an additional 14,324 shares in the last quarter. Macquarie Group Ltd. purchased a new position in Manning and Napier during the 3rd quarter valued at about $153,000. JPMorgan Chase & Co. grew its holdings in Manning and Napier by 637.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,261 shares of the asset manager’s stock valued at $155,000 after buying an additional 34,804 shares in the last quarter. Hancock Holding Co. grew its holdings in Manning and Napier by 26.9% during the 2nd quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock valued at $160,000 after buying an additional 7,795 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new position in Manning and Napier during the 2nd quarter valued at about $245,000. 51.19% of the stock is owned by institutional investors and hedge funds.

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Manning and 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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