Manning and Napier (NYSE:MN) Lowered to Hold at Zacks Investment Research
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 upgraded shares of Manning and Napier from a strong sell rating to a sell rating in a research report on Thursday, August 1st.
Manning and Napier (NYSE:MN) last released its quarterly earnings results on Tuesday, July 30th. The asset manager reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $34.29 million during the quarter. Manning and Napier had a net margin of 1.49% and a return on equity of 8.12%. Analysts predict that Manning and Napier will post 0.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be given a $0.02 dividend. The ex-dividend date is Monday, October 14th. This represents a $0.08 annualized dividend and a dividend yield of 4.12%. Manning and Napier’s dividend payout ratio is presently 36.36%.
In other news, Director Edward J. Pettinella acquired 96,928 shares of Manning and Napier stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $1.72 per share, with a total value of $166,716.16. Following the completion of the purchase, the director now owns 146,959 shares of the company’s stock, valued at approximately $252,769.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc O. Mayer acquired 84,960 shares of Manning and Napier stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $1.69 per share, for a total transaction of $143,582.40. Following the purchase, the chief executive officer now directly owns 435,000 shares of the company’s stock, valued at approximately $735,150. The disclosure for this purchase can be found here. Insiders bought 320,329 shares of company stock worth $549,605 over the last quarter. Company insiders own 6.50% of the company’s stock.
An institutional investor recently bought a new position in Manning and Napier stock. Alpine Global Management LLC acquired a new stake in shares of Manning and Napier Inc (NYSE:MN) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,213 shares of the asset manager’s stock, valued at approximately $30,000. Alpine Global Management LLC owned 0.09% of Manning and Napier as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 45.61% of the company’s stock.
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.
Further Reading: What Does a Sell-Side Analyst Rating Mean?
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