Manning & NapierNYSE
Manning & Napier: Complicated Ownership Structure And Catalysts Create Nearly 100% Upside
DeepValueFinder • 13 Comments
DeepValueFinder • 13 Comments
Mon, Nov. 21, 1:00 PM
Wed, Oct. 26, 4:49 PM
Wed, Oct. 26, 4:15 PM
Tue, Oct. 25, 5:35 PM
- ABX, ACGL, AEM, AHL, ALDW, ALGT, AMSF, ANIK, AR, ARI, ARRS, AXS, AXTI, BGG, BWLD, CAA, CACI, CAKE, CDE, CHE, CMO, CMPR, CRY, CSGP, CSII, CW, DDR, DLB, DRE, ECHO, EFX, EGHT, EPE, EQY, ESND, ESV, EXR, FBHS, FFIV, FISV, FORR, GG, GRPN, GTY, HUBG, IBKC, INFN, JBT, KEX, KMT, KNX, KRA, KRC, KWR, LLNW, LMAT, MB, MC, MEOH, MKSI, MMLP, MMSI, MN, MUR, NEM, NEU, NOW, NTGR, NTRI, NXPI, O, OCN, ORLY, PLNT, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QTM, RCII, RGA, RHI, RJF, SCI, SFLY, SGMO, SHLM, SIGI, SU, TER, TILE, TIS, TRN, TSLA, TTMI, TXN, TYL, UCTT, UHS, UNM, VAR, VMW, WCN, WDC, WIRE, WLL, XL
Mon, Oct. 17, 2:00 PM
- It's the kind of headline that makes one wonder if the bottom might already be in for traditional asset managers.
- The numbers won't surprise anyone who's been following along for any length of time: Over the three years ended Aug. 31, investors added nearly $1.3T to passive mutual funds and ETFs, while pulling more than $250M from active mutual funds.
- "Stock pickers, archetypes of 20th century Wall Street, are being pushed to the margins," write Anne Tergesen and Jason Zweig. "The pressure has gotten so great that passive has become the default,” says former Fidelity CIO Philip Bullen.
- And by the way, there's still plenty of room for the trend to continue - 66% of mutual and exchange-traded fund assets are still actively invested (down from 84% ten years ago).
- Active fund firms that don't “position themselves for the sea change” will be “relegated to the dustbin of history," said Cohen & Steers (NYSE:CNS) in shareholder letter earlier this year.
- Notable industry names: BLK, OZM, BEN, LM, GBL, CLMS, JNS, IVZ, TROW, AB, AMG, FII, WDR, APAM, MN, EV, AMP
Thu, Jul. 28, 5:42 PM
Wed, Jul. 27, 4:13 PM
Tue, Jul. 26, 5:35 PM
- ABCO, ABX, ACGL, AEM, AF, AGNC, AHL, ALEX, ALSN, AMCC, AMGN, ANIK, ARRS, ASGN, AXTI, BKCC, CA, CAKE, CBI, CBT, CDE, CMO, CMPR, CMRE, CNMD, COHR, CRUS, CSGP, CVTI, CW, CYS, DLB, DRE, ECHO, EFX, ELY, EQY, ESRT, ESV, EXR, FB, FBHS, FOE, FORR, GG, GPRO, GRPN, HOLX, HT, IAC, IBKC, INFN, INT, ISBC, KEX, KGC, KIM, KNL, KNX, KONA, KRA, KS, LLNW, LM, LOGI, LPSN, LRCX, MAA, MANT, MAR, MCK, MEOH, MKSI, MMLP, MMSI, MN, MOH, MUR, NATI, NE, NEU, NGD, NOW, NTGR, NTRI, NVDQ, NXPI, O, OCN, OI, ORLY, OTEX, PEIX, PPC, PSA, PXD, QDEL, QEP, QTM, RCII, ROIC, RRTS, SCI, SFLY, SIGI, SPRT, SPSC, SSNC, SU, TER, TILE, TIS, TMK, TMST, TTEK, TTMI, TYL, UNM, VAR, VNDA, VNR, VRTX, WFM, WFT, WIRE, WLL, WRE, WSR, XL, XLNX
Wed, Jul. 20, 1:00 PM
Fri, Jul. 15, 10:06 AM
- Expecting a significant improvement in net flows over the next few quarters, and continued strong capital returns, and noting solid overall fund performance and an attractive valuation at current levels, analyst Ari Ghosh upgrades Virtus Investment (VRTS +3.6%) to Outperform with $91 price target, suggesting near 15% upside from yesterday's close.
- "We wait to see if the infusion of a new management team (both external hires) will result in an improvement in performance, product innovation, and a return to positive organic growth," he says, reiterating an Underperform rating and $6 price target on Calamos Asset Management (CLMS -2.6%).
- Investment performance has improved across various products, but Manning and Napier's (MN -1.7%) overall performance is "the weakest in our coverage," he says, reiterating a Neutral rating and $9 price target.
- Ghosh throws in the towel on Artisan Partners Asset Management (APAM -1.5%) with a downgrade to Neutral from Outperform. "APAM's long-term fund performance has steadily declined from industry-leading levels (~80 percent of its retail AUM was rated 4/5 stars by Morningstar in Dec'15) to below the industry average over the last 6 months."
Wed, Jul. 13, 10:51 PM
Thu, Jun. 23, 1:00 PM
Wed, Jun. 22, 1:01 PM
Wed, May 11, 4:07 PM
- MN April 30 AUM of $38.1B vs. $34.7B one month earlier, with the acquisition of Rainier Investment Management adding $3B to the April level.
- Separate accounts AUM of $22.5B vs. $22B. Mutual funds and collective investment trusts AUM of $16.4B vs. $14.4B.
Wed, Apr. 27, 4:51 PM
- Manning & Napier (NYSE:MN) declares $0.16/share quarterly dividend, in line with previous.
- Forward yield 7.66%
- Payable Aug. 1; for shareholders of record July 15; ex-div July 13.
Wed, Apr. 27, 4:11 PM
- Manning & Napier (NYSE:MN): Q1 EPS of $0.18 beats by $0.01.
- Revenue of $64.54M (-28.6% Y/Y) misses by $1.53M.