Manning & Napier Advisors LLC Has $41.05 Million Position in NetEase, Inc. (NTES)
Manning & Napier Advisors LLC lowered its stake in shares of NetEase, Inc. (NASDAQ:NTES) by 38.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 155,615 shares of the technology company’s stock after selling 96,850 shares during the quarter. Manning & Napier Advisors LLC owned approximately 0.12% of NetEase worth $41,051,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. OLD National Bancorp IN raised its stake in NetEase by 0.4% during the 2nd quarter. OLD National Bancorp IN now owns 930 shares of the technology company’s stock valued at $280,000 after acquiring an additional 4 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in NetEase by 1.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,366 shares of the technology company’s stock valued at $411,000 after acquiring an additional 17 shares in the last quarter. Financial Counselors Inc. raised its stake in NetEase by 1.7% during the 2nd quarter. Financial Counselors Inc. now owns 1,211 shares of the technology company’s stock valued at $364,000 after acquiring an additional 20 shares in the last quarter. HPM Partners LLC raised its stake in NetEase by 2.3% during the 2nd quarter. HPM Partners LLC now owns 1,334 shares of the technology company’s stock valued at $401,000 after acquiring an additional 30 shares in the last quarter. Finally, US Bancorp DE raised its stake in NetEase by 1.3% during the 2nd quarter. US Bancorp DE now owns 4,041 shares of the technology company’s stock valued at $1,215,000 after acquiring an additional 50 shares in the last quarter. 50.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NetEase, Inc. (NTES) traded up $41.26 during mid-day trading on Friday, hitting $367.50. The stock had a trading volume of 6,047,300 shares, compared to its average volume of 1,281,239. NetEase, Inc. has a twelve month low of $211.11 and a twelve month high of $375.10. The stock has a market capitalization of $43,100.00, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.26 and a beta of 0.93.
NetEase declared that its Board of Directors has approved a share repurchase plan on Wednesday, November 15th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the technology company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, December 1st will be paid a $0.717 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $2.87 dividend on an annualized basis and a yield of 0.78%. NetEase’s dividend payout ratio (DPR) is currently 24.31%.
A number of analysts have recently commented on the company. Zacks Investment Research downgraded NetEase from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Deutsche Bank AG set a $325.00 price objective on NetEase and gave the stock a “buy” rating in a research note on Friday, October 6th. Barclays PLC assumed coverage on NetEase in a research note on Wednesday, October 4th. They issued an “equal weight” rating and a $260.00 price objective on the stock. UBS AG downgraded NetEase from a “buy” rating to a “neutral” rating in a research note on Monday, October 30th. Finally, ValuEngine raised NetEase from a “hold” rating to a “buy” rating in a research note on Friday, November 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $320.38.
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NetEase, Inc (NetEase) is a technology company. The Company operates an interactive online community in China and is a provider of Chinese language content and services through its online games, Internet media, e-mail, e-commerce and other businesses. The Company operates through three segments: Online Game Services; Advertising Services, and E-mail, E-commerce and Others.
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