Manning & Napier Inc. (NYSE:MN) has been given an average rating of “Hold” by the seven ratings firms that are currently covering the stock. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $7.95.

MN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Manning & Napier from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Keefe, Bruyette & Woods lowered 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 report on Friday, July 29th. Finally, Credit Suisse Group AG assumed coverage on shares of Manning & Napier in a report on Thursday, July 14th. They set a “neutral” rating and a $9.00 price target for the company.

Shares of Manning & Napier (NYSE:MN) opened at 7.60 on Thursday. The firm has a market capitalization of $114.24 million, a price-to-earnings ratio of 10.01 and a beta of 1.39. Manning & Napier has a 12-month low of $5.60 and a 12-month high of $10.34. The firm’s 50-day moving average is $7.42 and its 200-day moving average is $8.34.

Manning & Napier (NYSE:MN) last posted its earnings results on Wednesday, July 27th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. Manning & Napier had a net margin of 4.04% and a return on equity of 46.49%. The business had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $65.81 million. During the same quarter last year, the business posted $0.24 earnings per share. The business’s revenue was down 22.3% compared to the same quarter last year. Equities research analysts forecast that Manning & Napier will post $0.70 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 14th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.64 dividend on an annualized basis and a yield of 8.42%. Manning & Napier’s payout ratio is 87.67%.

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new position in shares of Manning & Napier during the second quarter worth $112,000. Deere & Co. acquired a new position in shares of Manning & Napier during the second quarter worth $122,000. Hancock Holding Co. acquired a new position in shares of Manning & Napier during the second quarter worth $126,000. Martingale Asset Management L P acquired a new position in shares of Manning & Napier during the second quarter worth $127,000. Finally, 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 worth $128,000 after buying an additional 723 shares during the period. Hedge funds and other institutional investors own 77.41% of the company’s stock.

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.

5 Day Chart for NYSE:MN

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