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

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Zacks Investment Research upgraded shares of Manning and Napier (NYSE:MN) from a sell rating to a hold rating in a research note 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, ValuEngine lowered shares of Manning and Napier from a buy rating to a hold rating in a research report on Saturday, June 2nd.

NYSE MN opened at $2.80 on Tuesday. The company has a market cap of $42.17 million, a P/E ratio of 7.00 and a beta of 1.25. Manning and Napier has a 1 year low of $2.55 and a 1 year high of $4.35.

Manning and Napier (NYSE:MN) last posted its quarterly earnings results on Tuesday, July 31st. The asset manager reported $0.06 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.06. The business had revenue of $41.12 million for the quarter, compared to analyst estimates of $40.52 million. Manning and Napier had a net margin of 1.12% and a return on equity of 15.05%. analysts forecast that Manning and Napier will post 0.21 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Monday, October 15th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $0.32 annualized dividend and a dividend yield of 11.43%. Manning and Napier’s dividend payout ratio is 80.00%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ancora Advisors LLC boosted its position in Manning and Napier by 13.4% in the first quarter. Ancora Advisors LLC now owns 212,000 shares of the asset manager’s stock valued at $742,000 after buying an additional 25,000 shares in the last quarter. Millennium Management LLC boosted its position in Manning and Napier by 37.4% in the second quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock valued at $673,000 after buying an additional 59,067 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Manning and Napier by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 447,699 shares of the asset manager’s stock valued at $1,567,000 after buying an additional 30,718 shares in the last quarter. Institutional investors and hedge funds own 51.46% 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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