Manning & Napier Inc. Declares Quarterly Dividend of $0.16 (MN)
Manning & Napier (NYSE:MN) announced a quarterly dividend on Tuesday, October 29th, ARN reports. Shareholders of record on Wednesday, January 15th will be paid a dividend of $0.16 per share on Monday, February 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.46%.
A number of analysts have recently weighed in on MN shares. Analysts at Zacks reiterated a “hold” rating on shares of Manning & Napier in a research note to investors on Wednesday, October 9th. They now have a $15.40 price target on the stock. On a related note, analysts at Keefe, Bruyette & Woods raised their price target on shares of Manning & Napier from $18.00 to $19.00 in a research note to investors on Wednesday, October 9th. They now have a “market perform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Manning & Napier from $18.50 to $20.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.18.
Shares of Manning & Napier (NYSE:MN) traded down 0.64% during mid-day trading on Tuesday, hitting $18.49. The stock had a trading volume of 52,012 shares. Manning & Napier has a 1-year low of $11.70 and a 1-year high of $20.45. The stock’s 50-day moving average is $16.52 and its 200-day moving average is $17.2. The company has a market cap of $252.1 million and a price-to-earnings ratio of 132.93.
Manning & Napier (NYSE:MN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $92.97 million for the quarter, compared to the consensus estimate of $93.01 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that Manning & Napier will post $1.19 EPS for the current fiscal year.
Manning & Napier, Inc is an independent investment management firm. The Company provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds.
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