O Shaughnessy Asset Management LLC grew its holdings in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 914,776 shares of the financial services provider’s stock after acquiring an additional 30,966 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Manulife Financial were worth $33,205,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MFC. Brighton Jones LLC increased its holdings in Manulife Financial by 33.9% in the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock worth $288,000 after purchasing an additional 2,376 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Manulife Financial by 179.7% during the 1st quarter. AQR Capital Management LLC now owns 28,362 shares of the financial services provider’s stock worth $872,000 after buying an additional 18,222 shares during the period. Empowered Funds LLC increased its stake in shares of Manulife Financial by 18.7% in the 1st quarter. Empowered Funds LLC now owns 56,418 shares of the financial services provider’s stock valued at $1,757,000 after acquiring an additional 8,900 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Manulife Financial by 13.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider’s stock valued at $251,000 after acquiring an additional 909 shares during the period. Finally, MUFG Securities EMEA plc lifted its position in shares of Manulife Financial by 814.3% during the 2nd quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock valued at $204,544,000 after acquiring an additional 5,699,999 shares during the period. 52.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on MFC shares. Royal Bank Of Canada restated an “outperform” rating on shares of Manulife Financial in a report on Friday, February 13th. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. TD Securities reissued a “buy” rating on shares of Manulife Financial in a research report on Thursday, May 14th. Finally, Weiss Ratings raised Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Two analysts have rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. According to MarketBeat.com, Manulife Financial has a consensus rating of “Buy” and a consensus price target of $51.50.
Manulife Financial Trading Up 0.6%
NYSE MFC opened at $38.94 on Tuesday. The company has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $36.62. Manulife Financial Corp has a 12-month low of $29.70 and a 12-month high of $40.40. The company has a market cap of $64.98 billion, a P/E ratio of 15.45 and a beta of 0.84.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a return on equity of 16.58% and a net margin of 10.19%.The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the company posted $0.99 EPS. Sell-side analysts predict that Manulife Financial Corp will post 3.2 EPS for the current year.
Manulife Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Friday, May 29th will be issued a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Friday, May 29th. Manulife Financial’s dividend payout ratio is currently 56.75%.
Manulife Financial Company Profile
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
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