Unigestion Holding SA purchased a new position in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 185,584 shares of the financial services provider's stock, valued at approximately $5,484,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Manulife Financial during the third quarter worth $26,000. West Financial Advisors LLC purchased a new stake in shares of Manulife Financial in the 3rd quarter valued at about $26,000. Grove Bank & Trust purchased a new position in shares of Manulife Financial during the second quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Manulife Financial in the third quarter valued at about $30,000. Finally, Fortitude Family Office LLC purchased a new position in Manulife Financial in the 3rd quarter valued at $31,000. 52.56% of the stock is owned by hedge funds and other institutional investors.
Manulife Financial Trading Up 0.1 %
NYSE MFC traded up $0.04 during trading on Wednesday, reaching $31.49. The company's stock had a trading volume of 3,257,501 shares, compared to its average volume of 2,519,897. The stock has a market capitalization of $55.16 billion, a PE ratio of 15.26, a PEG ratio of 1.19 and a beta of 1.09. The business has a 50-day moving average price of $31.12 and a 200-day moving average price of $28.21. Manulife Financial Co. has a 1-year low of $20.67 and a 1-year high of $33.07.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released its 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. The firm had revenue of $10.69 billion during the quarter, compared to analysts' expectations of $9.73 billion. Manulife Financial had a net margin of 9.79% and a return on equity of 16.11%. During the same period in the prior year, the company earned $0.69 EPS. As a group, analysts expect that Manulife Financial Co. will post 2.72 earnings per share for the current year.
Manulife Financial Increases Dividend
The company 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 $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.76%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, November 20th. Manulife Financial's payout ratio is 57.00%.
Analysts Set New Price Targets
Separately, Barclays began coverage on shares of Manulife Financial in a research report on Thursday, September 5th. They issued an "equal weight" rating on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $37.50.
Read Our Latest Stock Report 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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