Brandywine Global Investment Management LLC Has $276,000 Position in Manning & Napier, Inc. (MN)
Brandywine Global Investment Management LLC reduced its stake in shares of Manning & Napier, Inc. (NYSE:MN) by 73.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 63,300 shares of the asset manager’s stock after selling 179,049 shares during the quarter. Brandywine Global Investment Management LLC owned 0.42% of Manning & Napier worth $276,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in MN. Oxford Asset Management purchased a new stake in shares of Manning & Napier during the 1st quarter valued at about $102,000. Prudential Financial Inc. raised its holdings in shares of Manning & Napier by 9.2% during the 1st quarter. Prudential Financial Inc. now owns 22,663 shares of the asset manager’s stock valued at $129,000 after buying an additional 1,917 shares during the period. Hancock Holding Co. raised its holdings in shares of Manning & Napier by 26.9% during the 2nd quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock valued at $160,000 after buying an additional 7,795 shares during the period. Spark Investment Management LLC purchased a new stake in shares of Manning & Napier during the 2nd quarter valued at about $180,000. Finally, Teachers Advisors LLC raised its holdings in shares of Manning & Napier by 14.3% during the 4th quarter. Teachers Advisors LLC now owns 26,402 shares of the asset manager’s stock valued at $199,000 after buying an additional 3,312 shares during the period. Institutional investors and hedge funds own 57.02% of the company’s stock.
Shares of Manning & Napier, Inc. (MN) opened at 4.00 on Wednesday. The firm has a market cap of $60.32 million, a price-to-earnings ratio of 7.60 and a beta of 1.47. The firm’s 50-day moving average price is $3.71 and its 200-day moving average price is $4.42. Manning & Napier, Inc. has a 52 week low of $3.00 and a 52 week high of $8.15.
Manning & Napier (NYSE:MN) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Manning & Napier had a return on equity of 34.28% and a net margin of 3.41%. The business had revenue of $51.53 million during the quarter, compared to analysts’ expectations of $50.22 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue was down 20.1% compared to the same quarter last year. Equities research analysts expect that Manning & Napier, Inc. will post $0.46 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be issued a $0.08 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.32 annualized dividend and a yield of 8.00%. Manning & Napier’s dividend payout ratio (DPR) is 60.38%.
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Several equities research analysts recently commented on MN shares. Keefe, Bruyette & Woods upgraded Manning & Napier from an “underperform” rating to a “market perform” rating and dropped their target price for the company from $5.25 to $4.50 in a report on Wednesday, June 14th. Zacks Investment Research downgraded Manning & Napier from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. Finally, ValuEngine upgraded Manning & Napier from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
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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