Zacks Investment Research downgraded shares of Manning and Napier (NYSE:MN) from a buy rating to a sell rating in a report released on Tuesday morning.

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, ValuEngine cut shares of Manning and Napier from a buy rating to a hold rating in a research note on Saturday, June 2nd.

Manning and Napier traded down $0.05, hitting $2.75, during midday trading on Tuesday, reports. The company’s stock had a trading volume of 95,324 shares, compared to its average volume of 57,548. Manning and Napier has a 1-year low of $2.70 and a 1-year high of $4.35. The stock has a market capitalization of $42.91 million, a price-to-earnings ratio of 6.88 and a beta of 1.36.

Manning and Napier (NYSE:MN) last issued its quarterly earnings data on Tuesday, July 31st. The asset manager reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Manning and Napier had a net margin of 1.12% and a return on equity of 15.12%. The business had revenue of $41.12 million during the quarter, compared to analysts’ expectations of $40.52 million. equities analysts forecast that Manning and Napier will post 0.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Monday, October 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 11.64%. The ex-dividend date is Friday, October 12th. Manning and Napier’s dividend payout ratio (DPR) is 80.00%.

A hedge fund recently raised its stake in Manning and Napier stock. Dimensional Fund Advisors LP boosted its holdings in Manning and Napier Inc (NYSE:MN) by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 447,699 shares of the asset manager’s stock after purchasing an additional 30,718 shares during the quarter. Dimensional Fund Advisors LP owned 2.93% of Manning and Napier worth $1,567,000 at the end of the most recent reporting period. 54.23% of the stock is currently owned by institutional investors and hedge funds.

Manning and Napier Company Profile

Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.

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