Manning & Napier, Inc. (NYSE:MN) posted its quarterly earnings results on Wednesday. The asset manager reported $0.10 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.01), Bloomberg Earnings reports. Manning & Napier had a net margin of 3.41% and a return on equity of 34.28%. The company had revenue of $48.84 million for the quarter, compared to analysts’ expectations of $47.52 million. During the same quarter in the prior year, the firm earned $0.16 earnings per share. The company’s revenue was down 22.9% on a year-over-year basis.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Monday, January 15th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 8.77%. The ex-dividend date of this dividend is Thursday, January 11th. Manning & Napier’s payout ratio is presently 60.38%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Manning & Napier from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $4.00 price objective on shares of Manning & Napier in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Manning & Napier from a “hold” rating to a “buy” rating in a research note on Friday, September 1st.
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.
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