Manning & Napier Inc. (MN) Trading Up 6.9%
Shares of Manning & Napier Inc. (NYSE:MN) were up 6.9% on Tuesday . The company traded as high as $10.24 and last traded at $10.18, with a volume of 180,539 shares changing hands. The stock had previously closed at $9.52.
Several analysts recently weighed in on MN shares. Zacks Investment Research downgraded Manning & Napier from a “hold” rating to a “sell” rating in a research report on Saturday, April 2nd. Sandler O’Neill upped their price objective on Manning & Napier from $7.50 to $8.00 in a research report on Tuesday, April 12th. Two analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Manning & Napier currently has an average rating of “Hold” and an average price target of $8.04.
The stock has a 50-day moving average price of $9.21 and a 200 day moving average price of $8.18. The stock has a market capitalization of $150.62 million and a price-to-earnings ratio of 12.22.
Manning & Napier (NYSE:MN) last posted its earnings results on Wednesday, April 27th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $64.50 million for the quarter, compared to analysts’ expectations of $65.50 million. During the same quarter last year, the company posted $0.28 EPS. The firm’s revenue was down 28.7% on a year-over-year basis. Equities analysts forecast that Manning & Napier Inc. will post $0.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Wednesday, July 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.72%.
In other news, Director Geoffrey Rosenberger bought 10,000 shares of Manning & Napier stock in a transaction on Friday, May 13th. The shares were purchased at an average price of $9.02 per share, for a total transaction of $90,200.00. Following the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $17,138. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Several hedge funds recently bought and sold shares of MN. Boston Partners bought a new stake in Manning & Napier during the fourth quarter valued at $1,208,000. Dimensional Fund Advisors LP increased its stake in Manning & Napier by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 194,520 shares of the company’s stock valued at $1,651,000 after buying an additional 5,316 shares during the last quarter. LSV Asset Management increased its stake in Manning & Napier by 0.8% in the fourth quarter. LSV Asset Management now owns 263,577 shares of the company’s stock valued at $2,237,000 after buying an additional 2,200 shares during the last quarter. Finally, Royce & Associates LLC increased its stake in Manning & Napier by 7.0% in the fourth quarter. Royce & Associates LLC now owns 712,392 shares of the company’s stock valued at $6,048,000 after buying an additional 46,400 shares during the last quarter.
Manning & Napier, Inc (Manning & Napier) is an independent investment management firm that 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. The Company offers equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds.
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