Renaissance Technologies LLC raised its position in shares of Manning & Napier, Inc. (NYSE:MN) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,080,600 shares of the asset manager’s stock after buying an additional 17,500 shares during the period. Renaissance Technologies LLC owned about 7.21% of Manning & Napier worth $6,159,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Brandes Investment Partners LP increased its stake in Manning & Napier by 68.3% in the first quarter. Brandes Investment Partners LP now owns 17,505 shares of the asset manager’s stock worth $100,000 after buying an additional 7,105 shares during the last quarter. Oxford Asset Management acquired a new stake in Manning & Napier during the first quarter worth $102,000. Prudential Financial Inc. increased its stake in Manning & Napier by 9.2% in the first quarter. Prudential Financial Inc. now owns 22,663 shares of the asset manager’s stock worth $129,000 after buying an additional 1,917 shares during the last quarter. Hancock Holding Co. increased its stake in Manning & Napier by 70.8% in the first quarter. Hancock Holding Co. now owns 28,947 shares of the asset manager’s stock worth $165,000 after buying an additional 11,995 shares during the last quarter. Finally, Teachers Advisors LLC increased its stake 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 during the last quarter. Institutional investors own 70.06% of the company’s stock.
Shares of Manning & Napier, Inc. (MN) opened at 4.05 on Monday. Manning & Napier, Inc. has a 52-week low of $3.85 and a 52-week high of $8.30. The firm has a market capitalization of $60.96 million, a P/E ratio of 6.89 and a beta of 1.41. The stock has a 50 day moving average of $4.20 and a 200-day moving average of $5.47.
Manning & Napier (NYSE:MN) last announced its quarterly earnings results on Wednesday, May 3rd. The asset manager reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.02. The business had revenue of $55.50 million for the quarter, compared to analysts’ expectations of $54.55 million. Manning & Napier had a net margin of 3.57% and a return on equity of 37.47%. The business’s quarterly revenue was down 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 earnings per share. Equities analysts expect that Manning & Napier, Inc. will post $0.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Friday, October 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Thursday, October 12th. Manning & Napier’s dividend payout ratio is presently 55.17%.
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MN has been the subject of a number of analyst reports. ValuEngine upgraded shares of Manning & Napier from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Zacks Investment Research upgraded shares of Manning & Napier from a “sell” rating to a “buy” rating and set a $6.25 price target for the company in a research report on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods upgraded 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. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Manning & Napier presently has an average rating of “Hold” and an average price target of $6.25.
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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