Callan Family Office LLC Has $1.94 Million Position in Manulife Financial Corp $MFC

Callan Family Office LLC increased its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 266.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 60,617 shares of the financial services provider’s stock after purchasing an additional 44,091 shares during the quarter. Callan Family Office LLC’s holdings in Manulife Financial were worth $1,937,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in MFC. William B. Walkup & Associates Inc. bought a new position in Manulife Financial in the 1st quarter worth approximately $43,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Manulife Financial during the second quarter worth $55,000. Carderock Capital Management Inc. acquired a new position in Manulife Financial during the second quarter worth $58,000. Opal Wealth Advisors LLC acquired a new position in Manulife Financial during the first quarter worth $59,000. Finally, Kozak & Associates Inc. bought a new stake in shares of Manulife Financial during the second quarter worth $61,000. 52.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on MFC shares. Morgan Stanley set a $47.00 target price on Manulife Financial in a report on Tuesday. Royal Bank Of Canada cut their target price on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating on the stock in a research note on Friday, August 8th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Manulife Financial in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and an average target price of $48.00.

Manulife Financial Stock Down 0.7%

MFC stock opened at $31.71 on Friday. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07. The business has a 50 day moving average price of $30.98 and a two-hundred day moving average price of $30.84. The company has a market cap of $53.73 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 1.09 and a beta of 0.98.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.The business had revenue of $11.30 billion for the quarter. During the same period in the prior year, the company earned $0.91 EPS. On average, equities research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Wednesday, August 20th were issued a dividend of $0.3199 per share. This represents a $1.28 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Wednesday, August 20th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. Manulife Financial’s payout ratio is 56.70%.

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.