VNBTrust National Association purchased a new stake in Manning and Napier Inc (NYSE:MN) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 410,224 shares of the asset manager’s stock, valued at approximately $1,476,000. Manning and Napier comprises 0.9% of VNBTrust National Association’s investment portfolio, making the stock its 22nd biggest holding.
Several other large investors have also modified their holdings of MN. Menta Capital LLC grew its position in shares of Manning and Napier by 38.7% in the second quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock valued at $1,135,000 after purchasing an additional 72,840 shares during the last quarter. Hancock Holding Co. grew its position in shares of Manning and Napier by 26.9% in the second quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock valued at $160,000 after purchasing an additional 7,795 shares during the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Manning and Napier in the second quarter valued at about $245,000. Dimensional Fund Advisors LP grew its position in shares of Manning and Napier by 23.2% in the second quarter. Dimensional Fund Advisors LP now owns 348,155 shares of the asset manager’s stock valued at $1,514,000 after purchasing an additional 65,630 shares during the last quarter. Finally, OxFORD Asset Management LLP grew its position in shares of Manning and Napier by 289.8% in the second quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock valued at $303,000 after purchasing an additional 51,867 shares during the last quarter. 51.19% of the stock is currently owned by institutional investors.
MN has been the subject of several research reports. Zacks Investment Research upgraded shares of Manning and Napier from a “hold” rating to a “buy” rating and set a $4.50 target price for the company in a research note on Wednesday, October 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $4.00 target price on shares of Manning and Napier in a research note on Friday, November 10th.
Manning and Napier (NYSE:MN) last released its earnings results on Wednesday, November 1st. The asset manager reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). Manning and Napier had a net margin of 3.30% and a return on equity of 30.20%. The company had revenue of $48.84 million during the quarter, compared to the consensus estimate of $47.52 million. The firm’s quarterly revenue was down 22.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.16 EPS. equities analysts expect that Manning and Napier Inc will post 0.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Monday, January 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 7.90%. The ex-dividend date is Thursday, January 11th. Manning and Napier’s dividend payout ratio is 139.13%.
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Manning and Napier Company Profile
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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