Manning and Napier (NYSE:MN) Upgraded by Zacks Investment Research to “Hold”

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Zacks Investment Research upgraded shares of Manning and Napier (NYSE:MN) from a sell rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Manning & Napier, Inc. operates as an investment advisor engaged in managing corporate and union pension and annuity funds, endowment funds, foundations, profit sharing plans and benefit plans. It offers equity and fixed income portfolios and a range of blended asset portfolios. The Company offers investment solutions through separately managed accounts, mutual funds, and collective investment trust funds. Manning & Napier, Inc. is headquartered in Fairport, New York. “

Shares of NYSE MN traded up $0.01 during trading on Wednesday, reaching $1.72. 20,234 shares of the stock were exchanged, compared to its average volume of 33,571. The company has a market capitalization of $26.74 million, a price-to-earnings ratio of 7.82 and a beta of 1.09. The business’s 50-day moving average price is $1.70 and its 200 day moving average price is $1.78. The company has a quick ratio of 5.11, a current ratio of 5.11 and a debt-to-equity ratio of 0.13. Manning and Napier has a twelve month low of $1.45 and a twelve month high of $2.88.

Manning and Napier (NYSE:MN) last released its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Manning and Napier had a net margin of 1.59% and a return on equity of 7.97%. The firm had revenue of $34.18 million for the quarter, compared to the consensus estimate of $34.34 million. As a group, sell-side analysts expect that Manning and Napier will post 0.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Wednesday, January 15th will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 4.65%. The ex-dividend date is Tuesday, January 14th. Manning and Napier’s dividend payout ratio (DPR) is 36.36%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of Manning and Napier by 1.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,217,699 shares of the asset manager’s stock worth $2,131,000 after purchasing an additional 13,200 shares during the last quarter. Millennium Management LLC grew its stake in Manning and Napier by 90.5% in the third quarter. Millennium Management LLC now owns 210,516 shares of the asset manager’s stock worth $395,000 after purchasing an additional 100,001 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in Manning and Napier by 30.1% in the third quarter. Ancora Advisors LLC now owns 790,000 shares of the asset manager’s stock worth $1,485,000 after purchasing an additional 183,000 shares in the last quarter. 44.07% of the stock is owned by hedge funds and other institutional investors.

Manning and Napier Company Profile

Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.

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