Manulife Financial (NYSE:MFC) Shares Unloaded Rep. Josh Gottheimer

Representative Josh Gottheimer (D-New Jersey) recently sold shares of Manulife Financial Co. NYSE: MFC. In a filing disclosed on November 06th, the Representative disclosed that they had sold between $1,001 and $15,000 in Manulife Financial stock on October 4th. 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 %

NYSE:MFC traded down $0.50 during trading hours on Friday, hitting $31.79. 1,458,018 shares of the stock were exchanged, compared to its average volume of 2,536,172. The company's 50 day moving average is $29.21 and its two-hundred day moving average is $26.96. Manulife Financial Co. has a twelve month low of $18.42 and a twelve month high of $32.94. The company has a market capitalization of $55.92 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 1.08 and a beta of 1.08.

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 EPS for the quarter, beating the consensus estimate of $0.64 by $0.27. The company had revenue of $9.41 billion during the quarter, compared to analysts' expectations of $8.95 billion. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities research analysts expect that Manulife Financial Co. will post 2.74 EPS for the current year.

Manulife Financial Increases Dividend

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

Analyst Upgrades and Downgrades

MFC has been the subject of several recent research reports. Barclays initiated coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $35.67.

Institutional Trading of Manulife Financial

A number of large investors have recently made changes to their positions in MFC. Grove Bank & Trust bought a new position in Manulife Financial during the 2nd quarter worth about $25,000. West Financial Advisors LLC bought a new position in Manulife Financial during the 3rd quarter worth about $26,000. Addison Advisors LLC increased its holdings in Manulife Financial by 77.2% during the 2nd quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after purchasing an additional 467 shares in the last quarter. HHM Wealth Advisors LLC increased its holdings in Manulife Financial by 119.0% during the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in Manulife Financial during the 3rd quarter worth about $30,000. Institutional investors own 52.56% of the company's stock.

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.

Manulife Financial Company Profile

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.