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Manning & Napier reported first quarter 2022 results, showing a revenue of $35.5 million, up 4% year-over-year but down 6% from the previous quarter. Average AUM was $21.3 billion, a 4% increase year-over-year but 4% lower sequentially. Operating income fell to $1.1 million, down approx. $5.1 million from Q1 2021. Total operating expenses increased by 23% to $34.5 million, driven by higher compensation and other costs. The company is undergoing a transition to be acquired by Callodine Group for $12.85 per share.
Manning & Napier, Inc. (NYSE: MN) has declared a quarterly dividend of $0.05 per share for its Class A common stock. This dividend will be paid on or about May 20, 2022, to shareholders recorded as of the close of business on May 6, 2022. The company offers a variety of investment solutions and serves a diverse client base, including high-net-worth individuals and institutions. Founded in 1970, Manning & Napier aims to provide customized investment strategies to address specific client needs.
Manning & Napier (NYSE: MN) will release its first quarter 2022 financial results on May 10, 2022, alongside its 10-Q filing. The company will not host a conference call due to its acquisition by Callodine Group. As of March 31, 2022, Manning & Napier reported $20.6 billion in assets under management, which includes $14.9 billion in separately managed accounts and $5.7 billion in mutual funds. Founded in 1970, the firm offers various investment solutions and serves a diverse client base, including individuals and institutions.
Manning & Napier (NYSE:MN) has announced its acquisition by Callodine Group, with a definitive agreement for Manning & Napier to go private at a price of $12.85 per share, representing a 41% premium over its March 31, 2022 closing price. The deal, expected to close in Q3 2022, is pending shareholder approval. Manning & Napier's management will remain intact, and the acquisition aims to enhance investment capabilities and resources for growth. A "go-shop" period allows for alternative acquisition proposals, ensuring maximum shareholder value.
Manning & Napier reported a decline in preliminary assets under management (AUM) to $20.8 billion as of February 28, 2022, down from $21.4 billion on January 31, 2022, and $22.5 billion at the end of December 2021. The decrease was attributed to reduced AUM in both separate accounts and mutual funds. Separate accounts saw a drop to $15.0 billion, while mutual funds decreased to $5.7 billion. Manning & Napier provides a range of investment solutions for diverse clients, including individuals and institutions.
Manning & Napier, Inc. (NYSE: MN) has declared a quarterly dividend of $0.05 per share for its Class A common stock. The dividend is set to be paid on or about March 30, 2022 to shareholders of record as of the close of business on March 16, 2022. This reflects the company's commitment to providing returns to its shareholders amidst its diverse investment solutions, which include equity, fixed income, and alternative strategies.
Manning & Napier (NYSE: MN) reported preliminary assets under management (AUM) of $21.4 billion as of January 31, 2022, down from $22.5 billion as of December 31, 2021. The decrease in AUM was driven by losses in separate accounts, which totaled $15.5 billion, compared to $16.3 billion previously. Additionally, mutual funds and collective investment trusts saw a decline from $6.2 billion to $5.9 billion. The company serves a diverse client base, including high-net-worth individuals and institutional clients.
Manning & Napier (NYSE: MN) reported strong Q4 2021 results, with revenue of $37.8 million, up 13% year-over-year and 1% sequentially. Net income for Q4 was $7.4 million, or $0.34 per diluted share. Full-year revenue reached $145.6 million, a 15% increase from 2020. Assets under management (AUM) grew to $22.5 billion, reflecting a 12% year-over-year increase. The firm announced a $10 million share repurchase program, illustrating ongoing commitment to returning value to shareholders.
Manning & Napier, Inc. (NYSE: MN) will report its fourth quarter 2021 financial results on February 8, 2022, after market close. A teleconference will follow at 5:00 p.m. to discuss the results, accessible via dial-in or webcast. Preliminary assets under management as of December 31, 2021 were reported at $22.5 billion, comprising $16.3 billion in managed accounts and $6.2 billion in mutual funds. Founded in 1970 and headquartered in Fairport, NY, the company offers diverse investment solutions to high-net-worth individuals and institutions.
Manning & Napier, Inc. (NYSE: MN) reported preliminary assets under management (AUM) of $22.0 billion as of November 30, 2021, a decrease from $22.5 billion at October 31, 2021. The AUM remained stable compared to September 30, 2021, also at $22.0 billion. The decline in AUM for the month indicates potential challenges in attracting or retaining investments. The company offers diverse investment solutions including equity, fixed income, and alternative strategies to a wide range of clients, alongside consultative services.
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