Manning & Napier, Inc. (NYSE:MN) declared a quarterly dividend on Friday, July 28th, Wall Street Journal reports. Stockholders of record on Friday, October 13th will be given a dividend of 0.08 per share by the asset manager on Wednesday, November 1st. This represents a $0.32 annualized dividend and a dividend yield of 8.00%. The ex-dividend date of this dividend is Thursday, October 12th.
Manning & Napier has a payout ratio of 72.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Manning & Napier to earn $0.33 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 97.0%.
Shares of Manning & Napier (MN) opened at 4.00 on Wednesday. The company’s 50-day moving average is $3.71 and its 200 day moving average is $4.42. 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 $60.32 million, a price-to-earnings ratio of 7.60 and a beta of 1.47.
Manning & Napier (NYSE:MN) last posted its earnings results on Tuesday, August 1st. The asset manager reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. Manning & Napier had a return on equity of 34.28% and a net margin of 3.41%. The company had revenue of $51.53 million for the quarter, compared to the consensus estimate of $50.22 million. During the same quarter in the prior year, the company earned $0.17 earnings per share. Manning & Napier’s revenue was down 20.1% on a year-over-year basis. On average, analysts expect that Manning & Napier will post $0.46 EPS for the current fiscal year.
MN has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised Manning & Napier from an “underperform” rating to a “market perform” rating and lowered their target price for the company from $5.25 to $4.50 in a report on Wednesday, June 14th. Zacks Investment Research raised Manning & Napier from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, ValuEngine raised Manning & Napier from a “hold” rating to a “buy” rating in a report on Friday, September 1st.
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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