Manning & Napier Inc. (NYSE:MN) shares fell 5.3% during trading on Wednesday . The stock traded as low as $8.52 and last traded at $8.52, with a volume of 151,144 shares. The stock had previously closed at $9.00.

Several brokerages recently commented on MN. Zacks Investment Research downgraded shares of Manning & Napier from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. Credit Suisse Group AG began coverage on shares of Manning & Napier in a research note on Thursday, July 14th. They issued a “neutral” rating and a $9.00 target price on the stock. Finally, Sandler O’Neill lifted their target price on shares of Manning & Napier from $7.50 to $8.00 in a research note on Tuesday, April 12th. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $8.04.

The firm’s 50 day moving average is $9.22 and its 200-day moving average is $8.20. The company has a market cap of $129.43 million and a price-to-earnings ratio of 10.50.

Manning & Napier (NYSE:MN) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The company had revenue of $64.50 million for the quarter, compared to the consensus estimate of $65.50 million. Manning & Napier’s revenue for the quarter was down 28.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 EPS. On average, equities analysts expect that Manning & Napier Inc. will post $0.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 7.43%. The ex-dividend date of this dividend is Wednesday, July 13th.

In other Manning & Napier news, Director Geoffrey Rosenberger purchased 10,000 shares of the stock in a transaction on Friday, May 13th. The stock was acquired at an average price of $9.02 per share, with a total value 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 filing with the SEC, which is available at this link.

A number of large investors have modified their holdings of the company. Dimensional Fund Advisors LP increased 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 valued at $1,651,000 after buying an additional 5,316 shares in the last quarter. Royce & Associates LLC increased 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 valued at $6,048,000 after buying an additional 46,400 shares in the last quarter. Boston Partners acquired a new stake in shares of Manning & Napier during the fourth quarter valued at $1,208,000. Finally, LSV Asset Management increased 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 valued at $2,237,000 after buying an additional 2,200 shares in 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.