Manning and Napier (NYSE:MN) Upgraded to Sell at ValuEngine

ValuEngine upgraded shares of Manning and Napier (NYSE:MN) from a strong sell rating to a sell rating in a research report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research raised shares of Manning and Napier from a hold rating to a buy rating and set a $1.75 price objective for the company in a research note on Tuesday, July 23rd.

Shares of NYSE:MN traded up $0.12 during trading hours on Thursday, hitting $1.70. 169,864 shares of the company’s stock traded hands, compared to its average volume of 57,317. Manning and Napier has a 52 week low of $1.45 and a 52 week high of $3.03. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.70 and a current ratio of 5.70. The company’s fifty day simple moving average is $1.69. The stock has a market cap of $24.31 million, a P/E ratio of 7.73 and a beta of 1.24.

Manning and Napier (NYSE:MN) last posted its quarterly earnings data on Tuesday, July 30th. The asset manager reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Manning and Napier had a net margin of 1.49% and a return on equity of 8.15%. The business had revenue of $34.29 million for the quarter. Analysts expect that Manning and Napier will post 0.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date is Monday, October 14th. Manning and Napier’s dividend payout ratio is presently 36.36%.

A hedge fund recently raised its stake in Manning and Napier stock. Bank of New York Mellon Corp raised its position in shares of Manning and Napier Inc (NYSE:MN) by 133.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,723 shares of the asset manager’s stock after buying an additional 17,545 shares during the quarter. Bank of New York Mellon Corp owned 0.20% of Manning and Napier worth $54,000 at the end of the most recent quarter. 47.75% of the stock is owned by institutional investors and hedge funds.

About Manning and Napier

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.

Further Reading: Convertible Shares

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