Manning and Napier (NYSE:MN) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Manning and Napier (NYSE:MN) from a hold rating to a sell rating in a research report report published on Friday, Zacks.com reports.

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. “

Separately, ValuEngine upgraded shares of Manning and Napier from a strong sell rating to a sell rating in a research note on Thursday, August 1st.

NYSE MN traded down $0.06 on Friday, reaching $1.76. 91,104 shares of the stock were exchanged, compared to its average volume of 52,718. Manning and Napier has a one year low of $1.45 and a one year high of $2.88. The firm has a market capitalization of $28.43 million, a PE ratio of 8.00 and a beta of 1.09. The company’s 50-day simple moving average is $1.81 and its two-hundred day simple moving average is $1.86. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.13.

Manning and Napier (NYSE:MN) last released its earnings results on Thursday, October 31st. The asset manager reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Manning and Napier had a net margin of 1.59% and a return on equity of 8.04%. The company had revenue of $34.18 million for the quarter, compared to analysts’ expectations of $34.34 million. Sell-side analysts forecast that Manning and Napier will post 0.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Wednesday, January 15th will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, January 14th. Manning and Napier’s payout ratio is currently 36.36%.

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In related news, Director Edward J. Pettinella acquired 25,000 shares of Manning and Napier stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $1.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now directly owns 280,273 shares in the company, valued at approximately $490,477.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Edward J. Pettinella acquired 26,754 shares of Manning and Napier stock in a transaction dated Friday, August 30th. The shares were bought at an average price of $1.86 per share, for a total transaction of $49,762.44. Following the transaction, the director now owns 473,683 shares of the company’s stock, valued at $881,050.38. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 65,448 shares of company stock worth $116,754. Company insiders own 6.50% of the company’s stock.

An institutional investor recently raised its position in Manning and Napier stock. Renaissance Technologies LLC grew its stake in shares of Manning and Napier Inc (NYSE:MN) by 1.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,217,699 shares of the asset manager’s stock after buying an additional 13,200 shares during the period. Renaissance Technologies LLC owned 7.76% of Manning and Napier worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 45.62% of the company’s stock.

Manning and Napier Company Profile

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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