Integrated Advisors Network LLC decreased its position in shares of Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 79.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 15,020 shares of the financial services provider’s stock after selling 56,665 shares during the quarter. Integrated Advisors Network LLC’s holdings in Manulife Financial were worth $517,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Basepoint Wealth LLC bought a new position in Manulife Financial during the 4th quarter valued at $25,000. Hantz Financial Services Inc. bought a new stake in shares of Manulife Financial in the 4th quarter worth $28,000. Sfam LLC bought a new stake in shares of Manulife Financial in the 4th quarter worth $28,000. Heritage Wealth Advisors acquired a new stake in shares of Manulife Financial in the fourth quarter valued at $30,000. Finally, Blueline Advisors LLC acquired a new stake in shares of Manulife Financial in the fourth quarter valued at $34,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Manulife Financial Stock Performance
Manulife Financial stock opened at $41.46 on Friday. The firm has a market cap of $69.06 billion, a price-to-earnings ratio of 16.45 and a beta of 0.84. Manulife Financial Corp has a 1 year low of $29.70 and a 1 year high of $41.73. The firm’s 50 day moving average price is $39.57 and its two-hundred day moving average price is $37.48.
Manulife Financial Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 4.7%. Manulife Financial’s payout ratio is 56.75%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the company. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. Weiss Ratings upgraded shares of Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday, May 28th. Finally, Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating and five have given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $51.50.
Get Our Latest Stock Analysis on Manulife Financial
About Manulife Financial
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.
See Also
- Five stocks we like better than Manulife Financial
- PriceSmart Stock Eyes $220 as Chile Expansion Fuels Growth
- Dollar Tree’s Turnaround Is Starting to Take Root
- Why Levi’s Digital Strategy Is Paying Off in a Big Way
- Constellation Brands: Beer Growth and Buybacks Mask Stock’s Slump
Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC).
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.
