Russell Investments Group Ltd. reduced its position in shares of Manning & Napier, Inc. (NYSE:MN) by 60.3% during the first quarter, Holdings Channel reports. The institutional investor owned 18,025 shares of the asset manager’s stock after selling 27,379 shares during the period. Russell Investments Group Ltd.’s holdings in Manning & Napier were worth $103,000 as of its most recent filing with the SEC.

Separately, Teachers Advisors LLC raised its position in Manning & Napier by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 26,402 shares of the asset manager’s stock worth $199,000 after buying an additional 3,312 shares in the last quarter. Hedge funds and other institutional investors own 70.25% of the company’s stock.

Manning & Napier, Inc. (MN) opened at 4.15 on Tuesday. The company has a market cap of $62.47 million, a price-to-earnings ratio of 7.06 and a beta of 1.41. Manning & Napier, Inc. has a 52-week low of $3.85 and a 52-week high of $9.64. The stock has a 50 day moving average of $4.53 and a 200-day moving average of $5.98.

Manning & Napier (NYSE:MN) last posted its quarterly earnings data on Wednesday, May 3rd. The asset manager reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by $0.02. The firm had revenue of $55.50 million for the quarter, compared to the consensus estimate of $54.55 million. Manning & Napier had a return on equity of 37.47% and a net margin of 3.57%. The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. On average, analysts forecast that Manning & Napier, Inc. will post $0.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Friday, July 14th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.71%. The ex-dividend date is Wednesday, July 12th. Manning & Napier’s dividend payout ratio is presently 55.17%.

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MN has been the topic of a number of recent analyst reports. ValuEngine raised shares of Manning & Napier from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Zacks Investment Research raised shares of Manning & Napier from a “sell” rating to a “buy” rating and set a $6.25 price target on the stock in a research report on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods raised shares of Manning & Napier from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $5.25 to $4.50 in a research report on Wednesday, June 14th. Five equities research analysts have rated the stock with a hold rating, Manning & Napier presently has an average rating of “Hold” and a consensus target price of $6.25.

About Manning & Napier

Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It 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.

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Institutional Ownership by Quarter for Manning & Napier (NYSE:MN)

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