Zacks Investment Research upgraded shares of Manning and Napier (NYSE:MN) from a sell rating to a hold rating in a research note issued to investors on Wednesday, June 20th.

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 cut Manning and Napier from a buy rating to a hold rating in a research note on Saturday, June 2nd.

Manning and Napier stock opened at $3.00 on Wednesday. The firm has a market cap of $46.74 million, a PE ratio of 7.50 and a beta of 1.39. Manning and Napier has a 1-year low of $2.95 and a 1-year high of $4.55.

Manning and Napier (NYSE:MN) last posted its quarterly earnings results on Wednesday, May 2nd. The asset manager reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). Manning and Napier had a net margin of 1.54% and a return on equity of 18.81%. The business had revenue of $42.22 million during the quarter, compared to analyst estimates of $41.38 million. sell-side analysts forecast that Manning and Napier will post 0.22 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Friday, July 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date is Thursday, July 12th. Manning and Napier’s dividend payout ratio (DPR) is currently 80.00%.

Several institutional investors and hedge funds have recently bought and sold shares of MN. Spark Investment Management LLC increased its position in shares of Manning and Napier by 176.8% during the fourth quarter. Spark Investment Management LLC now owns 114,600 shares of the asset manager’s stock worth $412,000 after purchasing an additional 73,200 shares in the last quarter. Yorktown Management & Research Co Inc acquired a new stake in shares of Manning and Napier during the fourth quarter worth about $468,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Manning and Napier during the fourth quarter worth about $128,000. Dimensional Fund Advisors LP increased its position in shares of Manning and Napier by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 447,699 shares of the asset manager’s stock worth $1,567,000 after purchasing an additional 30,718 shares in the last quarter. Finally, Ancora Advisors LLC increased its position in shares of Manning and Napier by 13.4% during the first quarter. Ancora Advisors LLC now owns 212,000 shares of the asset manager’s stock worth $742,000 after purchasing an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 54.15% 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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