Manning & Napier Advisors LLC Increases Holdings in Sanofi $SNY

Key Points

• Manning & Napier Advisors LLC dramatically increased its Sanofi stake in the first quarter, adding 1,194,141 shares and bringing its total holding to 1,194,305 shares worth about $57.5 million.
• Sanofi reported a recent dividend increase, raising the annual payout to $2.4225 per share from $2.04, with the dividend paid on June 3.
• Analysts are mixed on the stock: the consensus rating remains Hold with a $49.50 price target, though some firms recently upgraded Sanofi to Strong Buy.

Manning & Napier Advisors LLC raised its stake in Sanofi (NASDAQ:SNY - Free Report) by 728,134.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,194,305 shares of the company's stock after acquiring an additional 1,194,141 shares during the period. Manning & Napier Advisors LLC's holdings in Sanofi were worth $57,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Flagship Harbor Advisors LLC purchased a new stake in Sanofi during the 4th quarter valued at about $25,000. Physician Wealth Advisors Inc. grew its holdings in shares of Sanofi by 180.5% during the first quarter. Physician Wealth Advisors Inc. now owns 589 shares of the company's stock valued at $28,000 after buying an additional 379 shares during the last quarter. Leonteq Securities AG increased its position in shares of Sanofi by 95.8% during the first quarter. Leonteq Securities AG now owns 607 shares of the company's stock valued at $29,000 after acquiring an additional 297 shares in the last quarter. Measured Wealth Private Client Group LLC purchased a new position in Sanofi in the 3rd quarter worth approximately $29,000. Finally, Palisade Asset Management LLC purchased a new position in Sanofi in the 3rd quarter worth approximately $30,000. 14.03% of the stock is currently owned by institutional investors.

Sanofi Stock Performance

SNY stock traded down $0.40 during trading on Friday, reaching $43.50. The stock had a trading volume of 2,661,848 shares, compared to its average volume of 4,024,977. The firm has a market cap of $105.46 billion, a PE ratio of 12.15, a PEG ratio of 1.12 and a beta of 0.34. The company has a current ratio of 1.01, a quick ratio of 0.22 and a debt-to-equity ratio of 0.17. The stock's 50 day moving average is $43.36 and its two-hundred day moving average is $45.68. Sanofi has a 52 week low of $40.89 and a 52 week high of $52.68.

Sanofi Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Wednesday, June 3rd. Investors of record on Monday, May 4th were issued a $2.4225 dividend. The ex-dividend date of this dividend was Monday, May 4th. This is a positive change from Sanofi's previous annual dividend of $2.04. This represents a dividend yield of 559.0%. Sanofi's payout ratio is 49.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SNY shares. Citigroup reaffirmed a "neutral" rating on shares of Sanofi in a report on Monday, April 13th. Argus raised Sanofi to a "strong-buy" rating in a research report on Monday, April 27th. Sanford C. Bernstein upgraded shares of Sanofi to a "strong-buy" rating in a research note on Thursday, March 19th. BNP Paribas Exane downgraded shares of Sanofi from an "outperform" rating to a "neutral" rating and set a $50.00 price target on the stock. in a report on Monday, April 20th. Finally, Morgan Stanley set a $49.00 price target on shares of Sanofi in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $49.50.

Sanofi Profile

Sanofi NASDAQ: SNY is a multinational pharmaceutical company headquartered in France that researches, develops, manufactures and markets prescription medicines, vaccines and consumer healthcare products. The company operates across multiple therapeutic areas, including immunology, rare diseases, oncology, cardiovascular and metabolic diseases, and vaccines through its Sanofi Pasteur division. Sanofi sells products to hospitals, clinics, governments and retail pharmacies, with a broad global footprint and significant presence in Europe, North America and emerging markets.

Key commercial offerings include specialty biologics and established small-molecule medicines.

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