Manning & Napier (NYSE:MN) Stock Crosses Above 200-Day Moving Average of $11.92

Manning & Napier, Inc. (NYSE:MNGet Rating)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.92 and traded as high as $12.65. Manning & Napier shares last traded at $12.60, with a volume of 780,210 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Manning & Napier from a “buy” rating to a “hold” rating in a research report on Friday, June 10th.

Manning & Napier Trading Down 0.2 %

The company has a market cap of $232.67 million, a P/E ratio of 15.75 and a beta of 2.15. The company’s fifty day moving average is $12.70 and its 200 day moving average is $11.92.

Manning & Napier Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Friday, August 5th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, August 4th. Manning & Napier’s dividend payout ratio (DPR) is presently 25.00%.

Hedge Funds Weigh In On Manning & Napier

Several hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in shares of Manning & Napier by 1,525.5% during the second quarter. Millennium Management LLC now owns 521,561 shares of the asset manager’s stock valued at $6,504,000 after purchasing an additional 489,474 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Manning & Napier by 114.3% during the 2nd quarter. Gamco Investors INC. ET AL now owns 641,500 shares of the asset manager’s stock valued at $8,000,000 after buying an additional 342,208 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Manning & Napier by 12.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,120,468 shares of the asset manager’s stock worth $13,972,000 after buying an additional 119,945 shares during the period. State Street Corp grew its position in shares of Manning & Napier by 257.3% in the 2nd quarter. State Street Corp now owns 159,261 shares of the asset manager’s stock worth $1,986,000 after buying an additional 114,690 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Manning & Napier by 433.5% in the 2nd quarter. Northern Trust Corp now owns 131,065 shares of the asset manager’s stock worth $1,634,000 after acquiring an additional 106,496 shares in the last quarter. 61.45% of the stock is owned by institutional investors.

About Manning & Napier

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Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.

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