Manning & Napier Inc. (NYSE:MN) was down 3.2% on Thursday . The company traded as low as $9.64 and last traded at $9.74, with a volume of 71,630 shares. The stock had previously closed at $10.06.

A number of equities research analysts have 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 Friday, March 25th. Sandler O’Neill boosted their target price on Manning & Napier from $7.50 to $8.00 in a research report on Tuesday, April 12th. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $9.00 target price on shares of Manning & Napier in a research report on Thursday. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Manning & Napier has a consensus rating of “Hold” and a consensus price target of $8.04.

The stock has a market capitalization of $144.31 million and a P/E ratio of 11.71. The firm has a 50 day moving average price of $9.23 and a 200-day moving average price of $8.19.

Manning & Napier (NYSE:MN) last released its quarterly earnings results on Wednesday, April 27th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The company earned $64.50 million during the quarter, compared to the consensus estimate of $65.50 million. Manning & Napier’s quarterly revenue was down 28.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. Analysts forecast that Manning & Napier Inc. will post $0.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Wednesday, July 13th.

In other Manning & Napier news, Director Geoffrey Rosenberger acquired 10,000 shares of the business’s stock in a transaction on Friday, May 13th. The shares were acquired at an average price of $9.02 per share, for a total transaction of $90,200.00. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at $17,138. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Other large investors have made changes to their positions in the company. Royce & Associates LLC boosted its stake in shares of Manning & Napier by 7.0% in the fourth quarter. Royce & Associates LLC now owns 712,392 shares of the company’s stock worth $6,048,000 after buying an additional 46,400 shares during the period. LSV Asset Management boosted its stake in shares of Manning & Napier by 0.8% in the fourth quarter. LSV Asset Management now owns 263,577 shares of the company’s stock worth $2,237,000 after buying an additional 2,200 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Manning & Napier by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 194,520 shares of the company’s stock worth $1,651,000 after buying an additional 5,316 shares during the period. Finally, Boston Partners acquired a new stake in shares of Manning & Napier during the fourth quarter worth $1,208,000.

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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