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Manning & Napier, Inc. (NYSE: MN) has successfully completed its acquisition by Callodine Group LLC, an asset management firm. The acquisition was announced on April 1, 2022, and received shareholder approval on August 3, 2022. Shareholders will receive $12.85 per share in cash, with stock ceasing to trade on the New York Stock Exchange. This transition marks a new chapter for Manning & Napier, aiming to enhance client experiences and leverage synergies under Callodine's management.
Manning & Napier (NYSE: MN) reported preliminary assets under management (AUM) of $17.4 billion as of September 30, 2022. This includes approximately $12.4 billion from separately managed accounts and $5.0 billion from mutual funds and collective investment trusts. The company anticipates completing its transaction with Callodine Group in October 2022. Established in 1970, Manning & Napier offers diverse investment solutions and serves clients such as high-net-worth individuals and institutions.
Manning & Napier (NYSE: MN) announced an extension of the merger agreement date with Callodine Group to December 1, 2022. This decision aims to facilitate regulatory review processes necessary for closing the transaction, which is now expected to finalize in October 2022. The merger is pending clearance from the New Hampshire Banking Department and other customary conditions. Callodine Group, managing approximately $2 billion in assets, focuses on yield-oriented investment strategies. Manning & Napier emphasizes its commitment to its stakeholders during this transition.
Manning & Napier, Inc. reported a decrease in preliminary assets under management (AUM) to $18.7 billion as of August 31, 2022, down from $19.3 billion at the end of July. This reflects a slight decline from $18.5 billion recorded at the end of June. The AUM for separate accounts was $13.4 billion, while mutual funds and collective investment trusts totaled $5.3 billion. The firm serves a diversified client base and emphasizes tailored investment solutions.
Manning & Napier, Inc. (NYSE: MN) reported preliminary assets under management (AUM) of $19.3 billion as of July 31, 2022, an increase from $18.5 billion on June 30, 2022. The AUM is categorized into separate accounts totaling $13.8 billion and mutual funds and collective investment trusts at $5.5 billion. The growth reflects positive client activity and market conditions. Manning & Napier offers diverse investment solutions and serves a wide range of clients, including high-net-worth individuals and institutions.
Manning & Napier (NYSE: MN) reported a second-quarter 2022 revenue of $33.8 million, down 6% year-over-year and 5% from Q1 2022. Average assets under management (AUM) fell 11% year-over-year to $19.5 billion. Operating income decreased to $7.1 million, with a 21% operating margin. Despite a 30% reduction in compensation expenses, total operating costs rose 9% year-to-date. Net income attributable to Manning & Napier was $2.3 million, or $0.12 per share. The company is transitioning to being acquired by Callodine Group.
Manning & Napier has declared a quarterly dividend of $0.05 per share of Class A common stock.
The dividend will be payable on August 19, 2022 to shareholders on record as of August 5, 2022. The company, headquartered in Fairport, NY, provides a variety of investment solutions and serves a diverse client base.
Manning & Napier, Inc. (NYSE: MN) announced it will release its second quarter 2022 financial results the week of August 8, 2022, but will not hold a conference call due to an acquisition agreement with Callodine Group. As of June 30, 2022, the company reported preliminary assets under management (AUM) of $18.5 billion, which includes $13.3 billion in separately managed accounts and $5.2 billion in mutual funds and collective investment trusts.
Manning & Napier, Inc. (NYSE: MN) reported preliminary assets under management (AUM) of $19.4 billion as of May 31, 2022, down from $19.6 billion in April and $20.6 billion in March 2022. The decline reflects a trend of decreasing AUM over the previous months, primarily attributed to client sales and redemption activity. The company serves a diversified client base and offers various investment solutions, including separately managed accounts and mutual funds.
Manning & Napier reported preliminary assets under management (AUM) of $19.6 billion as of April 30, 2022, a decline from $20.6 billion at the end of March 2022. The decrease reflects a reduction in both separate accounts, which fell to $14.1 billion, and mutual funds and collective investment trusts, which dropped to $5.5 billion. The press release highlights the company's diverse investment solutions and client base, while providing insights into recent market challenges impacting AUM.
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