Zacks Investment Research downgraded shares of Manning & Napier (NYSE:MN) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

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. “

A number of other analysts have also recently commented on MN. ValuEngine raised shares of Manning & Napier from a hold rating to a buy rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods restated a hold rating and set a $4.00 price target on shares of Manning & Napier in a research report on Friday, November 10th.

Manning & Napier (NYSE MN) traded down $0.03 during trading hours on Wednesday, hitting $3.72. 53,800 shares of the stock traded hands, compared to its average volume of 136,958. Manning & Napier has a 1-year low of $3.00 and a 1-year high of $8.15. The firm has a market capitalization of $56.40, a P/E ratio of 7.35, a P/E/G ratio of 1.05 and a beta of 1.52.

Manning & Napier (NYSE:MN) last issued its earnings results on Wednesday, November 1st. The asset manager reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Manning & Napier had a return on equity of 30.20% and a net margin of 3.30%. The business had revenue of $48.84 million for the quarter, compared to analysts’ expectations of $47.52 million. During the same period last year, the business earned $0.16 EPS. The company’s revenue for the quarter was down 22.9% on a year-over-year basis. analysts expect that Manning & Napier will post 0.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, January 11th. This represents a $0.32 annualized dividend and a dividend yield of 8.60%. Manning & Napier’s dividend payout ratio is currently 66.67%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in shares of Manning & Napier by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock valued at $1,449,000 after purchasing an additional 18,656 shares during the period. Menta Capital LLC increased its stake in shares of Manning & Napier by 38.7% in the second quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock worth $1,135,000 after buying an additional 72,840 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Manning & Napier by 89.8% in the first quarter. Geode Capital Management LLC now owns 244,615 shares of the asset manager’s stock worth $1,393,000 after buying an additional 115,749 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Manning & Napier by 58.5% in the second quarter. Municipal Employees Retirement System of Michigan now owns 216,480 shares of the asset manager’s stock worth $942,000 after buying an additional 79,900 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Manning & Napier in the second quarter worth $382,000. 51.56% of the stock is currently owned by institutional investors and hedge funds.

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Manning & Napier Company Profile

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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