Concurrent Investment Advisors LLC lessened its stake in Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,347 shares of the financial services provider’s stock after selling 412 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Manulife Financial were worth $306,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Manulife Financial by 1.0% in the first quarter. Vanguard Group Inc. now owns 72,289,251 shares of the financial services provider’s stock valued at $1,806,508,000 after acquiring an additional 727,764 shares during the last quarter. National Bank of Canada FI raised its holdings in Manulife Financial by 14.8% in the 1st quarter. National Bank of Canada FI now owns 28,803,968 shares of the financial services provider’s stock valued at $749,435,000 after acquiring an additional 3,720,693 shares during the period. Toronto Dominion Bank boosted its holdings in shares of Manulife Financial by 3.2% during the second 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. grew its position in shares of Manulife Financial by 34.3% in the second quarter. 1832 Asset Management L.P. now owns 19,723,609 shares of the financial services provider’s stock valued at $525,042,000 after purchasing an additional 5,036,716 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Manulife Financial by 0.5% during the second quarter. Legal & General Group Plc now owns 14,783,400 shares of the financial services provider’s stock worth $393,592,000 after purchasing an additional 75,244 shares during the period. 52.56% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts have weighed in on MFC shares. Barclays started coverage on Manulife Financial in a research report on Thursday, September 5th. They set 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 investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $37.50.
View Our Latest Analysis on Manulife Financial
Manulife Financial Stock Down 1.5 %
Shares of Manulife Financial stock opened at $31.79 on Monday. The company has a market capitalization of $55.92 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 1.15 and a beta of 1.08. The firm’s 50-day moving average price is $29.39 and its two-hundred day moving average price is $27.08. Manulife Financial Co. has a 12-month low of $18.42 and a 12-month high of $32.94.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.30. The business had revenue of $10.69 billion for the quarter, compared to analyst estimates of $9.73 billion. Manulife Financial had a return on equity of 16.11% and a net margin of 9.79%. During the same period last year, the firm posted $0.69 earnings per share. On average, sell-side analysts expect that Manulife Financial Co. will post 2.75 earnings per share for the current year.
Manulife Financial Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Wednesday, November 20th will be paid a $0.296 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, November 20th. This represents a $1.18 annualized dividend and a yield of 3.72%. Manulife Financial’s dividend payout ratio is presently 56.04%.
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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