OPTIMAS CAPITAL Ltd cut its holdings in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,100 shares of the financial services provider's stock after selling 25,200 shares during the quarter. Manulife Financial makes up approximately 8.7% of OPTIMAS CAPITAL Ltd's holdings, making the stock its 2nd largest holding. OPTIMAS CAPITAL Ltd's holdings in Manulife Financial were worth $6,483,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in Manulife Financial in the fourth quarter worth about $26,000. Brooklyn Investment Group purchased a new stake in Manulife Financial in the third quarter worth about $26,000. Stonebridge Financial Group LLC purchased a new stake in Manulife Financial in the fourth quarter worth about $34,000. Golden State Wealth Management LLC purchased a new stake in Manulife Financial in the fourth quarter worth about $35,000. Finally, CKW Financial Group purchased a new stake in Manulife Financial in the fourth quarter worth about $37,000. 52.56% of the stock is owned by institutional investors.
Manulife Financial Price Performance
NYSE MFC traded down $0.09 during mid-day trading on Friday, reaching $30.45. The stock had a trading volume of 2,165,880 shares, compared to its average volume of 1,953,143. Manulife Financial Co. has a 1 year low of $22.61 and a 1 year high of $33.07. The stock has a market cap of $52.45 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.11 and a beta of 1.05. The company has a fifty day moving average price of $30.05 and a 200 day moving average price of $30.27.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, February 19th. The financial services provider reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.07. Manulife Financial had a net margin of 10.08% and a return on equity of 15.98%. The company had revenue of $9.31 billion during the quarter. As a group, equities research analysts expect that Manulife Financial Co. will post 2.87 earnings per share for the current year.
Manulife Financial Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were given a $0.3094 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, March 5th. This is an increase from Manulife Financial's previous quarterly dividend of $0.30. Manulife Financial's payout ratio is 58.45%.
Analyst Upgrades and Downgrades
MFC has been the subject of several recent research reports. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Monday, February 3rd. Royal Bank of Canada lifted their target price on shares of Manulife Financial from $49.00 to $51.00 and gave the company an "outperform" rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $45.50.
Check Out Our Latest Stock Analysis on Manulife Financial
Manulife Financial 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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