Geode Capital Management LLC increased its holdings in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 8.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,273,260 shares of the financial services provider's stock after purchasing an additional 616,517 shares during the quarter. Geode Capital Management LLC owned approximately 0.47% of Manulife Financial worth $247,473,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Grove Bank & Trust bought a new stake in Manulife Financial during the second quarter worth about $25,000. West Financial Advisors LLC bought a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Manulife Financial during the 3rd quarter worth approximately $26,000. Addison Advisors LLC boosted its holdings in shares of Manulife Financial by 77.2% in the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock valued at $29,000 after buying an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Manulife Financial by 119.0% in the second quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock valued at $29,000 after buying an additional 600 shares in the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Barclays started coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $37.50.
Get Our Latest Report on Manulife Financial
Manulife Financial Price Performance
NYSE MFC traded up $0.11 on Friday, reaching $30.93. The stock had a trading volume of 5,946,048 shares, compared to its average volume of 2,538,545. Manulife Financial Co. has a 1-year low of $20.78 and a 1-year high of $33.07. The company has a market cap of $54.19 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09. The firm has a fifty day moving average of $31.19 and a two-hundred day moving average of $28.32.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.00 EPS for the quarter, beating 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 business had revenue of $10.69 billion for the quarter, compared to the consensus estimate of $9.73 billion. During the same period in the prior year, the company posted $0.69 earnings per share. Research analysts predict that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.
Manulife Financial Increases Dividend
The business also recently announced 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 positive change from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Wednesday, November 20th. Manulife Financial's dividend payout ratio is 57.00%.
Manulife Financial Company Profile
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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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