Zacks Investment Research Upgrades Manning & Napier, Inc. (MN) to Hold
Manning & Napier, Inc. (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Manning & Napier, Inc. operates as an investment advisor engaged in managing corporate and union pension and annuity funds, endowment funds, foundations, profit sharing plans and benefit plans. It offers equity and fixed income portfolios and a range of blended asset portfolios. The Company offers investment solutions through separately managed accounts, mutual funds, and collective investment trust funds. Manning & Napier, Inc. is headquartered in Fairport, New York. “
Several other analysts have also recently issued reports on MN. ValuEngine raised shares of Manning & Napier from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $4.00 target price on shares of Manning & Napier in a research note on Thursday, August 3rd.
Manning & Napier (NYSE MN) opened at 4.05 on Wednesday. Manning & Napier has a one year low of $3.00 and a one year high of $8.15. The stock has a market cap of $61.07 million, a PE ratio of 7.70 and a beta of 1.47. The stock has a 50 day moving average price of $3.63 and a 200-day moving average price of $4.48.
Manning & Napier (NYSE:MN) last posted its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.12 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The firm had revenue of $51.53 million for the quarter, compared to the consensus estimate of $50.22 million. Manning & Napier had a net margin of 3.41% and a return on equity of 34.28%. The company’s revenue for the quarter was down 20.1% on a year-over-year basis. During the same period last year, the firm posted $0.17 earnings per share. Equities research analysts expect that Manning & Napier will post $0.46 earnings per share for the current fiscal year.
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Large investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Manning & Napier by 0.6% during the 3rd quarter. Victory Capital Management Inc. now owns 62,140 shares of the asset manager’s stock worth $441,000 after acquiring an additional 340 shares during the period. Ngam Advisors L.P. increased its position in Manning & Napier by 1.1% during the second quarter. Ngam Advisors L.P. now owns 32,708 shares of the asset manager’s stock worth $311,000 after purchasing an additional 358 shares during the last quarter. Advisors Asset Management Inc. raised its position in Manning & Napier by 7.4% in the second quarter. Advisors Asset Management Inc. now owns 15,664 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 1,077 shares during the period. Prudential Financial Inc. lifted its stake in shares of Manning & Napier by 9.2% in the 1st quarter. Prudential Financial Inc. now owns 22,663 shares of the asset manager’s stock valued at $129,000 after purchasing an additional 1,917 shares during the last quarter. Finally, LSV Asset Management lifted its stake in shares of Manning & Napier by 0.8% in the 4th quarter. LSV Asset Management now owns 263,577 shares of the asset manager’s stock valued at $2,237,000 after purchasing an additional 2,200 shares during the last quarter. Institutional investors own 57.02% of the company’s stock.
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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