Manning & Napier (NYSE:MN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manning & Napier (NYSE:MN – Get Rating) in a research report report published on Monday morning. The brokerage issued a strong-buy rating on the asset manager’s stock.

MN stock opened at $12.72 on Monday. Manning & Napier has a 12-month low of $6.07 and a 12-month high of $12.91. The business’s 50-day moving average is $9.16 and its 200 day moving average is $8.77. The stock has a market cap of $234.89 million, a price-to-earnings ratio of 10.78 and a beta of 2.89.

Manning & Napier (NYSE:MN – Get Rating) last announced its earnings results on Tuesday, February 8th. The asset manager reported $0.35 EPS for the quarter. Manning & Napier had a return on equity of 34.54% and a net margin of 17.25%. The business had revenue of $37.82 million during the quarter.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 30th. Shareholders of record on Wednesday, March 16th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.57%. Manning & Napier’s payout ratio is 16.95%.

A number of institutional investors have recently made changes to their positions in MN. GABELLI & Co INVESTMENT ADVISERS INC. boosted its holdings in Manning & Napier by 10.9% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 15,250 shares of the asset manager’s stock valued at $127,000 after purchasing an additional 1,500 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Manning & Napier by 48.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,200 shares of the asset manager’s stock worth $76,000 after acquiring an additional 3,000 shares during the period. Barclays PLC increased its stake in Manning & Napier by 243.4% during the third quarter. Barclays PLC now owns 4,430 shares of the asset manager’s stock worth $40,000 after acquiring an additional 3,140 shares during the last quarter. Morgan Stanley raised its position in Manning & Napier by 6.5% in the third quarter. Morgan Stanley now owns 82,021 shares of the asset manager’s stock valued at $748,000 after purchasing an additional 4,983 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Manning & Napier by 5.9% in the 3rd quarter. Geode Capital Management LLC now owns 98,333 shares of the asset manager’s stock valued at $897,000 after purchasing an additional 5,481 shares during the last quarter. Hedge funds and other institutional investors own 54.44% of the company’s stock.

Manning & Napier Company Profile (Get Rating)

Manning & Napier, Inc engages in the provision of investment advisory servcies. The firm offers a broad range of financial solutions and investment strategies, including wealth management services. It provides investment management services to separately managed accounts, mutual funds, and collective investment trust funds.

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