Manning & Napier Inc. (MN) Plans $0.16 Quarterly Dividend
Manning & Napier Inc. (NYSE:MN) declared a quarterly dividend on Thursday, July 28th. Shareholders of record on Friday, October 14th will be given a dividend of 0.16 per share on Tuesday, November 1st. This represents a $0.64 annualized dividend and a dividend yield of 8.56%. The ex-dividend date is Wednesday, October 12th.
Manning & Napier (NYSE:MN) opened at 7.48 on Friday. Manning & Napier has a 12-month low of $5.60 and a 12-month high of $10.34. The firm has a market capitalization of $112.44 million, a P/E ratio of 9.86 and a beta of 1.39. The firm has a 50 day moving average of $7.43 and a 200 day moving average of $8.34.
Manning & Napier (NYSE:MN) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by $0.01. The company had revenue of $67.54 million for the quarter, compared to analyst estimates of $65.81 million. Manning & Napier had a return on equity of 46.49% and a net margin of 4.04%. The business’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same period last year, the business earned $0.24 EPS. On average, analysts forecast that Manning & Napier will post $0.70 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new position in shares of Manning & Napier during the second quarter valued at $112,000. Deere & Co. bought a new position in shares of Manning & Napier during the second quarter valued at $122,000. Martingale Asset Management L P bought a new position in shares of Manning & Napier during the second quarter valued at $127,000. Prudential Financial Inc. boosted its position in shares of Manning & Napier by 5.7% in the second quarter. Prudential Financial Inc. now owns 13,400 shares of the company’s stock valued at $128,000 after buying an additional 723 shares during the period. Finally, Teachers Advisors Inc. bought a new position in shares of Manning & Napier during the second quarter valued at $219,000. Institutional investors and hedge funds own 77.41% of the company’s stock.
Several analysts have recently commented on the stock. Zacks Investment Research raised shares of Manning & Napier from a “sell” rating to a “hold” rating in a research report on Friday, September 16th. Keefe, Bruyette & Woods reduced their price target on shares of Manning & Napier from $9.25 to $8.75 and set a “market perform” rating for the company in a research report on Friday, July 29th. Finally, Credit Suisse Group AG reissued a “hold” rating and issued a $8.00 price target on shares of Manning & Napier in a research report on Thursday, September 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $8.08.
Manning & 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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