Manning and Napier Inc (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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, Needham & Company LLC restated a “hold” rating on shares of Manning and Napier in a research report on Monday, February 13th.

Manning and Napier (NYSE:MN) opened at 5.40 on Tuesday. The company has a market cap of $81.01 million, a PE ratio of 8.71 and a beta of 1.37. The stock has a 50 day moving average price of $6.40 and a 200 day moving average price of $7.15. Manning and Napier has a 1-year low of $5.20 and a 1-year high of $10.34.

Manning and Napier (NYSE:MN) last announced its quarterly earnings data on Thursday, February 9th. The company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Manning and Napier had a return on equity of 38.85% and a net margin of 3.64%. The company had revenue of $59.10 million for the quarter, compared to analyst estimates of $61.20 million. Manning and Napier’s revenue for the quarter was down 15.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS. Equities analysts forecast that Manning and Napier will post $0.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 14th will be given a dividend of $0.08 per share. The ex-dividend date of this dividend is Tuesday, April 11th. This represents a $0.32 annualized dividend and a dividend yield of 5.93%. Manning and Napier’s dividend payout ratio (DPR) is presently 104.92%.

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Several institutional investors have recently bought and sold shares of MN. Hancock Holding Co. increased its position in shares of Manning and Napier by 27.5% in the third quarter. Hancock Holding Co. now owns 16,952 shares of the company’s stock valued at $120,000 after buying an additional 3,657 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Manning and Napier by 2,121.2% in the third quarter. Acadian Asset Management LLC now owns 26,743 shares of the company’s stock valued at $190,000 after buying an additional 25,539 shares during the last quarter. Lombardia Capital Partners LLC increased its position in shares of Manning and Napier by 82.0% in the third quarter. Lombardia Capital Partners LLC now owns 38,384 shares of the company’s stock valued at $272,000 after buying an additional 17,291 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of Manning and Napier during the third quarter valued at about $288,000. Finally, Wedgewood Partners Inc. increased its position in shares of Manning and Napier by 29.7% in the third quarter. Wedgewood Partners Inc. now owns 44,250 shares of the company’s stock valued at $313,000 after buying an additional 10,125 shares during the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.

Manning and 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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