Manning & Napier, Inc. (NYSE:MN) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.70 and last traded at $3.70, with a volume of 127,485 shares traded. The stock had previously closed at $3.85.

Several research analysts recently issued reports on MN shares. ValuEngine upgraded shares of Manning & Napier from a “hold” rating to a “buy” rating in a research report on Saturday, May 20th. Zacks Investment Research upgraded shares of Manning & Napier from a “sell” rating to a “buy” rating and set a $6.25 target price for the company in a research report on Tuesday, April 18th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $4.00 target price on shares of Manning & Napier in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Manning & Napier currently has an average rating of “Hold” and an average target price of $6.08.

The stock has a 50-day moving average of $4.15 and a 200 day moving average of $5.36. The company has a market capitalization of $54.94 million, a P/E ratio of 7.05 and a beta of 1.40.

Manning & Napier (NYSE:MN) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.12 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. Manning & Napier had a net margin of 3.41% and a return on equity of 34.34%. The business had revenue of $51.53 million during the quarter, compared to analyst estimates of $50.22 million. During the same quarter last year, the firm posted $0.17 earnings per share. The business’s revenue for the quarter was down 20.1% compared to the same quarter last year. Equities research analysts predict that Manning & Napier, Inc. will post $0.45 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Friday, October 13th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 8.31%. The ex-dividend date is Thursday, October 12th. Manning & Napier’s payout ratio is 60.38%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its position in shares of Manning & Napier by 1.6% in the first quarter. Renaissance Technologies LLC now owns 1,080,600 shares of the asset manager’s stock worth $6,159,000 after buying an additional 17,500 shares in the last quarter. Mendon Capital Advisors Corp increased its position in shares of Manning & Napier by 268.1% in the first quarter. Mendon Capital Advisors Corp now owns 903,497 shares of the asset manager’s stock worth $5,150,000 after buying an additional 658,020 shares in the last quarter. RMB Capital Management LLC increased its position in shares of Manning & Napier by 1,749.1% in the first quarter. RMB Capital Management LLC now owns 360,975 shares of the asset manager’s stock worth $2,058,000 after buying an additional 341,453 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Manning & Napier by 7.5% in the first quarter. Dimensional Fund Advisors LP now owns 282,525 shares of the asset manager’s stock worth $1,610,000 after buying an additional 19,721 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Manning & Napier by 89.8% in the first quarter. Geode Capital Management LLC now owns 244,615 shares of the asset manager’s stock worth $1,393,000 after buying an additional 115,749 shares in the last quarter. Institutional investors own 70.90% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Manning & Napier, Inc. (NYSE:MN) Hits New 12-Month Low at $3.70” was first posted by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece of content can be viewed at https://www.watchlistnews.com/manning-napier-inc-nysemn-hits-new-12-month-low-at-3-70/1466037.html.

About Manning & Napier

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.

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