Manning and Napier Inc (NYSE:MN) Director Edward J. Pettinella Acquires 7,350 Shares

Manning and Napier Inc (NYSE:MN) Director Edward J. Pettinella acquired 7,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average cost of $1.64 per share, for a total transaction of $12,054.00. Following the purchase, the director now directly owns 146,959 shares in the company, valued at approximately $241,012.76. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of MN traded down $0.01 during midday trading on Tuesday, reaching $1.75. The stock had a trading volume of 17,517 shares, compared to its average volume of 61,543. Manning and Napier Inc has a 52 week low of $1.45 and a 52 week high of $3.03. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $1.69. The firm has a market cap of $26.66 million, a P/E ratio of 7.95 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 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Manning and Napier had a return on equity of 8.15% and a net margin of 1.49%. The firm had revenue of $34.29 million during the quarter. Sell-side analysts expect that Manning and Napier Inc will post 0.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 15th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date is Monday, October 14th. Manning and Napier’s payout ratio is 36.36%.

A number of analysts have recently commented on the company. Zacks Investment Research raised Manning and Napier from a “hold” rating to a “buy” rating and set a $1.75 price objective on the stock in a research note on Tuesday, July 23rd. ValuEngine raised Manning and Napier from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st.

A hedge fund recently bought a new stake in Manning and Napier stock. Alpine Global Management LLC bought a new position in Manning and Napier Inc (NYSE:MN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,213 shares of the asset manager’s stock, valued at approximately $30,000. Alpine Global Management LLC owned about 0.09% of Manning and Napier as of its most recent SEC filing. Institutional investors own 47.68% of the company’s stock.

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.

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