NYSE:MN

Stock Analysis Report

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Executive Summary

Manning & Napier, Inc. is publicly owned investment manager.

Rewards


Snowflake Analysis


Similar Companies

Share Price & News

How has Manning & Napier's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.8%

MN

-0.8%

US Capital Markets

1.6%

US Market


1 Year Return

56.1%

MN

1.1%

US Capital Markets

4.8%

US Market

Return vs Industry: MN exceeded the US Capital Markets industry which returned 1.1% over the past year.

Return vs Market: MN exceeded the US Market which returned 4.8% over the past year.


Shareholder returns

MNIndustryMarket
7 Day-2.8%-0.8%1.6%
30 Day-16.6%-0.2%2.3%
90 Day134.2%23.6%29.5%
1 Year64.0%56.1%3.2%1.1%7.1%4.8%
3 Year-22.6%-36.9%20.6%13.4%37.1%28.1%
5 Year-61.3%-72.8%53.7%39.0%67.2%48.6%

Price Volatility Vs. Market

How volatile is Manning & Napier's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Manning & Napier undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MN ($2.81) is trading below our estimate of fair value ($30.53)

Significantly Below Fair Value: MN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MN is good value based on its PE Ratio (23.9x) compared to the Capital Markets industry average (34x).

PE vs Market: MN is poor value based on its PE Ratio (23.9x) compared to the US market (16.5x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MN's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MN is good value based on its PB Ratio (0.3x) compared to the US Capital Markets industry average (9.3x).

Future Growth

How is Manning & Napier forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-5.9%

Forecasted annual revenue growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if MN's forecast earnings growth is above the savings rate (2.2%).

Earnings vs Market: Insufficient data to determine if MN's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MN's revenue is expected to decline over the next 3 years (-5.9% per year).

High Growth Revenue: MN's revenue is forecast to decline over the next 3 years (-5.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if MN's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Manning & Napier performed over the past 5 years?

-44.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MN has a large one-off loss of $9.3M impacting its March 31 2005 financial results.

Growing Profit Margin: MN's current net profit margins (1.4%) are lower than last year (1.7%).


Past Earnings Growth Analysis

Earnings Trend: MN's earnings have declined by -44.2% per year over the past 5 years.

Accelerating Growth: MN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MN had negative earnings growth (-28.6%) over the past year, making it difficult to compare to the Capital Markets industry average (16%).


Return on Equity

High ROE: MN's Return on Equity (5.1%) is considered low.

Financial Health

How is Manning & Napier's financial position?


Financial Position Analysis

Short Term Liabilities: MN's short term assets ($169.2M) exceed its short term liabilities ($32.6M).

Long Term Liabilities: MN's short term assets ($169.2M) exceed its long term liabilities ($35.7M).


Debt to Equity History and Analysis

Debt Level: MN is debt free.

Reducing Debt: MN has not had any debt for past 5 years.

Debt Coverage: MN has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: MN has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Dividend

What is Manning & Napier current dividend yield, its reliability and sustainability?

2.85%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MN's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MN is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MN's dividend in 3 years as they are not forecast to pay a notable one for the US market.

Management

How experienced are the management team and are they aligned to shareholders interests?

1.9yrs

Average management tenure


CEO

Marc Mayer (62yo)

1.5yrs

Tenure

US$5,017,299

Compensation

Mr. Marc Orlans Mayer serves as Chief Executive Officer at Manning & Napier, Inc. since January 31, 2019 and serves as its Director since June 12, 2019. Mr. Mayer has served as the President of Manning & N ...


CEO Compensation Analysis

Compensation vs Market: Marc's total compensation ($USD5.02M) is above average for companies of similar size in the US market ($USD1.35M).

Compensation vs Earnings: Insufficient data to compare Marc's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Marc Mayer
CEO & Director1.5yrsUS$5.02m1.76% $3.9m
Ebrahim Busheri
Director of Investments5.33yrsUS$2.12m0.60% $1.3m
Aaron McGreevy
Managing Director of Institutional & Intermediary Sales0.83yrUS$632.90k0.33% $722.8k
Paul Battaglia
Chief Financial Officer2.33yrsUS$608.23kno data
Christopher Briley
Chief Technology Officer1.33yrsno data0.066% $147.0k
Sean Silva
Investor Relations Contactno datano datano data
Sarah Turner
General Counsel & Corporate Secretary1.33yrsno data0.028% $61.5k
Nicole Brunner
Chief Marketing Officer2.33yrsno data0.014% $31.3k
Christian Andreach
Co-Head of Global Equities10.5yrsno datano data
Jeffrey Donlon
Managing Director of Global Strategies Groupno datano datano data

1.9yrs

Average Tenure

45yo

Average Age

Experienced Management: MN's management team is not considered experienced ( 1.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Marc Mayer
CEO & Director1.5yrsUS$5.02m1.76% $3.9m
Edward Pettinella
Independent Director8.67yrsUS$230.06k3.23% $7.2m
Richard Goldberg
Director6.08yrsUS$532.63k0.89% $2.0m
Barbara Goodstein
Independent Director7.67yrsUS$220.06k1.01% $2.2m
Kenneth Marvald
Independent Director3.25yrsUS$215.06k0.72% $1.6m
Robert Kopech
Independent Director1.08yrsUS$60.70k0.18% $395.3k

4.7yrs

Average Tenure

64.5yo

Average Age

Experienced Board: MN's board of directors are considered experienced (4.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MN insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Manning & Napier, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Manning & Napier, Inc.
  • Ticker: MN
  • Exchange: NYSE
  • Founded: 1970
  • Industry: Asset Management and Custody Banks
  • Sector: Diversified Financials
  • Implied Market Cap: US$221.616m
  • Market Cap: US$45.734m
  • Shares outstanding: 78.31m
  • Website: https://www.manning-napier.com

Number of Employees


Location

  • Manning & Napier, Inc.
  • 290 Woodcliff Drive
  • Fairport
  • New York
  • 14450
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MNNYSE (New York Stock Exchange)YesClass A Common StockUSUSDNov 2011
MN0DB (Deutsche Boerse AG)YesClass A Common StockDEEURNov 2011

Biography

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. The firm employs fundamental analysis along with a combination of bottom-up and top-down stock picking approach to create its portfolios. Manning & Napier, Inc. was founded in 1970 and is based in Fairport, New York with additional offices in Dublin, Ohio; St. Petersburg, Florida; and Chicago, Illinois. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/03 00:15
End of Day Share Price2020/07/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.