Manning & Napier Inc. (NYSE:MN)’s share price traded down 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 trading hands. The stock had previously closed at $9.00.

Several equities analysts have recently commented on the company. Credit Suisse Group AG assumed coverage on Manning & Napier in a research note on Thursday, July 14th. They set a “neutral” rating and a $9.00 price target on the stock. Zacks Investment Research downgraded Manning & Napier from a “buy” rating to a “hold” rating in a research report on Thursday, June 30th. Finally, Sandler O’Neill raised their price objective on Manning & Napier from $7.50 to $8.00 in a research report on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Manning & Napier currently has an average rating of “Hold” and a consensus target price of $8.04.

The firm has a market capitalization of $127.62 million and a price-to-earnings ratio of 10.35. The firm has a 50 day moving average of $9.17 and a 200 day moving average of $8.21.

Manning & Napier (NYSE:MN) last announced its quarterly earnings results on Wednesday, April 27th. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. During the same period last year, the company earned $0.28 EPS. The business earned $64.50 million during the quarter, compared to analyst estimates of $65.50 million. The business’s revenue for the quarter was down 28.7% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Friday, July 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 7.54%. 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 firm’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average price of $9.02 per share, with a total value of $90,200.00. Following the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $17,138. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Several large investors have recently bought and sold shares of the stock. Boston Partners purchased a new stake in Manning & Napier during the fourth quarter valued at about $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 in 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 in 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 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.

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