CSat Investment Advisory L.P. bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,417 shares of the financial services provider’s stock, valued at approximately $298,000.
Several other hedge funds and other institutional investors have also made changes to their positions in MFC. Enterprise Trust & Investment Co purchased a new position in shares of Manulife Financial in the 2nd quarter worth approximately $25,000. Cullen Frost Bankers Inc. boosted its stake in shares of Manulife Financial by 72.7% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,900 shares of the financial services provider’s stock worth $35,000 after buying an additional 800 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Manulife Financial by 206.3% in the 1st quarter. Rehmann Capital Advisory Group now owns 2,205 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,485 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in shares of Manulife Financial in the 2nd quarter worth approximately $38,000. Finally, Manchester Financial Inc. purchased a new position in Manulife Financial in the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 45.91% of the company’s stock.
Manulife Financial stock remained flat at $$18.44 during trading on Friday. The company had a trading volume of 1,516,210 shares, compared to its average volume of 1,617,917. Manulife Financial Co. has a fifty-two week low of $13.33 and a fifty-two week high of $18.87. The company’s 50-day moving average price is $17.04 and its 200 day moving average price is $17.58. The firm has a market cap of $36.09 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.83 and a beta of 1.42.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Manulife Financial had a net margin of 9.36% and a return on equity of 13.27%. The firm had revenue of $16.60 billion during the quarter. During the same quarter last year, the firm posted $0.70 EPS. On average, equities research analysts forecast that Manulife Financial Co. will post 2.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Tuesday, August 20th were paid a $0.189 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, August 19th. This represents a $0.76 annualized dividend and a yield of 4.10%. Manulife Financial’s dividend payout ratio is presently 36.02%.
MFC has been the topic of several research analyst reports. ValuEngine downgraded Manulife Financial from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.67.
Manulife Financial Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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