Rep. Josh Gottheimer Purchases Shares of Manulife Financial Co. (NYSE:MFC)

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Manulife Financial Co. NYSE: MFC. In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Manulife Financial stock on October 15th. The trade occurred in the Representative's "MORGAN STANLEY - SELECT UMA ACCOUNT # 1" account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 - $15,000 in shares of Texas Capital Bancshares NASDAQ: TCBI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ITT NYSE: ITT on 10/31/2024.
• Sold $1,001 - $15,000 in shares of Stifel Financial NYSE: SF on 10/31/2024.
• Sold $1,001 - $15,000 in shares of ICU Medical NASDAQ: ICUI on 10/31/2024.
• Sold $1,001 - $15,000 in shares of AppFolio NASDAQ: APPF on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Gates Industrial NYSE: GTES on 10/31/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/29/2024.
• Purchased $1,001 - $15,000 in shares of Techtronic Industries OTCMKTS: TTNDY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Disco OTCMKTS: DSCSY on 10/28/2024.
• Purchased $1,001 - $15,000 in shares of Enerpac Tool Group NYSE: EPAC on 10/25/2024.

Manulife Financial Stock Down 1.5 %

Shares of NYSE:MFC traded down $0.49 during midday trading on Friday, hitting $31.80. The stock had a trading volume of 1,458,018 shares, compared to its average volume of 2,536,172. The company has a market capitalization of $55.93 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08. The company's 50-day moving average price is $29.39 and its 200-day moving average price is $27.06. Manulife Financial Co. has a fifty-two week low of $18.42 and a fifty-two week high of $32.94.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.27. Manulife Financial had a return on equity of 16.16% and a net margin of 9.18%. The firm had revenue of $9.41 billion for the quarter, compared to the consensus estimate of $8.95 billion. During the same quarter last year, the business posted $0.62 EPS. Research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Wednesday, November 20th will be issued a $0.296 dividend. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.72%. The ex-dividend date is Wednesday, November 20th. Manulife Financial's dividend payout ratio (DPR) is currently 67.05%.

Wall Street Analyst Weigh In

MFC has been the topic of a number of recent analyst reports. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $35.67.

Institutional Investors Weigh In On Manulife Financial

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Manulife Financial by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider's stock valued at $1,806,508,000 after purchasing an additional 727,764 shares during the last quarter. National Bank of Canada FI grew its holdings in Manulife Financial by 14.8% during the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider's stock worth $749,435,000 after acquiring an additional 3,720,693 shares during the period. Toronto Dominion Bank grew its holdings in Manulife Financial by 3.2% during the 2nd quarter. Toronto Dominion Bank now owns 24,057,503 shares of the financial services provider's stock worth $640,411,000 after acquiring an additional 750,422 shares during the period. 1832 Asset Management L.P. raised its position in shares of Manulife Financial by 34.3% in the 2nd quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider's stock worth $525,042,000 after acquiring an additional 5,036,716 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Manulife Financial by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider's stock valued at $393,592,000 after purchasing an additional 75,244 shares during the period. 52.56% of the stock is currently owned by institutional investors and hedge funds.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey's 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey's 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer's career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer's committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

About Manulife Financial

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.