Janney Montgomery Scott LLC lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 22.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,432 shares of the financial services provider's stock after selling 28,908 shares during the period. Janney Montgomery Scott LLC's holdings in Manulife Financial were worth $2,909,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Toronto Dominion Bank raised its holdings in Manulife Financial by 57.9% during the first quarter. Toronto Dominion Bank now owns 23,307,081 shares of the financial services provider's stock worth $582,444,000 after purchasing an additional 8,548,114 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Manulife Financial by 103.1% during the first quarter. 1832 Asset Management L.P. now owns 14,686,893 shares of the financial services provider's stock worth $367,025,000 after purchasing an additional 7,456,712 shares in the last quarter. National Bank of Canada FI raised its holdings in Manulife Financial by 14.8% during the first quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider's stock worth $749,435,000 after purchasing an additional 3,720,693 shares in the last quarter. M&G Plc bought a new stake in Manulife Financial during the first quarter worth approximately $75,231,000. Finally, Acadian Asset Management LLC raised its holdings in Manulife Financial by 288.4% during the second quarter. Acadian Asset Management LLC now owns 3,943,509 shares of the financial services provider's stock worth $104,966,000 after purchasing an additional 2,928,316 shares in the last quarter. Institutional investors own 52.56% of the company's stock.
Manulife Financial Price Performance
NYSE MFC traded up $0.14 on Tuesday, hitting $32.54. 1,874,952 shares of the stock were exchanged, compared to its average volume of 2,528,607. Manulife Financial Co. has a 52-week low of $18.56 and a 52-week high of $32.94. The company has a market capitalization of $57.24 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 1.15 and a beta of 1.08. The company's 50-day moving average price is $29.49 and its two-hundred day moving average price is $27.17.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.30. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. The firm had revenue of $10.69 billion for the quarter, compared to analysts' expectations of $9.73 billion. During the same period in the previous year, the company posted $0.69 EPS. Equities analysts predict that Manulife Financial Co. will post 2.75 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.296 per share. This is a boost from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's payout ratio is currently 56.04%.
Analysts Set New Price Targets
Several research analysts have issued reports on MFC shares. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and a consensus price target of $37.50.
Check Out Our Latest Report on Manulife Financial
Manulife Financial Company Profile
(
Free Report)
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.
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