2,101 Shares in Manulife Financial Corp $MFC Bought by RMG Wealth Management LLC

RMG Wealth Management LLC bought a new position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, Holdings Channel reports. The fund bought 2,101 shares of the financial services provider’s stock, valued at approximately $65,000.

Other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new position in Manulife Financial in the 1st quarter worth $43,000. NBC Securities Inc. raised its holdings in Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 1,787 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new position in Manulife Financial in the 2nd quarter worth $55,000. Carderock Capital Management Inc. bought a new position in Manulife Financial in the 2nd quarter worth $58,000. Finally, Opal Wealth Advisors LLC bought a new position in Manulife Financial in the 1st quarter worth $59,000. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Price Performance

NYSE MFC opened at $32.29 on Tuesday. The firm has a market capitalization of $54.72 billion, a price-to-earnings ratio of 14.42, a P/E/G ratio of 1.07 and a beta of 0.98. The company’s fifty day moving average is $30.88 and its two-hundred day moving average is $30.82. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.02). The company had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same quarter last year, the company earned $0.91 EPS. As a group, sell-side analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current fiscal year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were given a dividend of $0.3199 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. Manulife Financial’s dividend payout ratio (DPR) is presently 56.70%.

Analysts Set New Price Targets

Several brokerages recently commented on MFC. Royal Bank Of Canada dropped their target price on shares of Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a report on Friday, August 8th. Weiss Ratings restated a “buy (a-)” rating on shares of Manulife Financial in a research report on Saturday, September 27th. Finally, Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat, Manulife Financial has a consensus rating of “Buy” and an average target price of $48.50.

About Manulife Financial

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.