Zacks Investment Research upgraded shares of Manning and Napier (NYSE:MN) from a sell rating to a hold rating in a research report report published on Thursday morning.

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 report on Monday, January 7th.

Shares of MN opened at $2.43 on Thursday. The company has a market cap of $38.18 million, a PE ratio of 11.05 and a beta of 1.50. Manning and Napier has a 12-month low of $1.65 and a 12-month high of $3.85.

Manning and Napier (NYSE:MN) last announced its earnings results on Tuesday, February 5th. The asset manager reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The business had revenue of $37.44 million for the quarter, compared to analysts’ expectations of $38.21 million. Manning and Napier had a return on equity of 12.25% and a net margin of 1.98%. As a group, research analysts predict that Manning and Napier will post 0.17 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Monday, April 15th will be given a $0.02 dividend. The ex-dividend date is Friday, April 12th. This represents a $0.08 dividend on an annualized basis and a yield of 3.29%. Manning and Napier’s dividend payout ratio (DPR) is 36.36%.

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Manning and Napier by 133.1% in the 4th quarter. Bank of New York Mellon Corp now owns 30,723 shares of the asset manager’s stock valued at $54,000 after buying an additional 17,545 shares during the last quarter. Bridgeway Capital Management Inc. grew its position in Manning and Napier by 91.7% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 219,500 shares of the asset manager’s stock valued at $648,000 after buying an additional 105,000 shares during the last quarter. Ancora Advisors LLC grew its position in Manning and Napier by 57.5% in the 3rd quarter. Ancora Advisors LLC now owns 400,000 shares of the asset manager’s stock valued at $1,180,000 after buying an additional 146,000 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in Manning and Napier in the 4th quarter valued at $289,000. Finally, Karpus Management Inc. purchased a new position in Manning and Napier in the 4th quarter valued at $449,000. Hedge funds and other institutional investors own 49.99% of the company’s stock.

About Manning and Napier

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.

Recommended Story: Momentum Investing

Get a free copy of the Zacks research report on Manning and Napier (MN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Manning and Napier Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manning and Napier and related companies with MarketBeat.com's FREE daily email newsletter.