Manning and Napier (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, January 3rd. The firm currently has a $4.25 target price on the asset manager’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 1.19% from the stock’s previous close.

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. “

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

Manning and Napier (MN) opened at $4.20 on Wednesday. Manning and Napier has a 52-week low of $3.00 and a 52-week high of $7.30. The firm has a market cap of $62.42, a P/E ratio of 8.14, a price-to-earnings-growth ratio of 1.60 and a beta of 1.52.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. VNBTrust National Association bought a new position in Manning and Napier during the fourth quarter valued at $1,476,000. Dimensional Fund Advisors LP lifted its position in Manning and Napier by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock valued at $1,449,000 after purchasing an additional 18,656 shares during the last quarter. Brandes Investment Partners LP lifted its position in Manning and Napier by 81.8% during the third quarter. Brandes Investment Partners LP now owns 31,829 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 14,324 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Manning and Napier by 637.8% during the third quarter. JPMorgan Chase & Co. now owns 40,261 shares of the asset manager’s stock valued at $155,000 after purchasing an additional 34,804 shares during the last quarter. Finally, Macquarie Group Ltd. bought a new position in Manning and Napier during the third quarter valued at $153,000. 53.84% of the stock is owned by institutional investors.

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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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