Susquehanna Fundamental Investments LLC increased its position in Manulife Financial Corp (NYSE:MFC – Free Report) (TSE:MFC) by 77.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 521,600 shares of the financial services provider’s stock after buying an additional 227,500 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Manulife Financial were worth $21,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Basepoint Wealth LLC bought a new position in shares of Manulife Financial during the fourth quarter valued at about $25,000. Addison Advisors LLC purchased a new position in Manulife Financial during the 2nd quarter valued at $25,000. First Bancorp Inc ME purchased a new position in shares of Manulife Financial during the second quarter valued at about $26,000. Hantz Financial Services Inc. purchased a new position in shares of Manulife Financial during the 4th quarter worth approximately $28,000. Finally, Canerector Inc. grew its stake in Manulife Financial by 27.0% in the first quarter. Canerector Inc. now owns 800,000 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 170,000 shares during the period. Institutional investors own 52.56% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the stock. Weiss Ratings raised shares of Manulife Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Wednesday, August 19th. Zacks Research downgraded shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Royal Bank Of Canada lifted their target price on shares of Manulife Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Scotiabank reissued an “outperform” rating on shares of Manulife Financial in a research report on Friday, August 7th. Finally, TD Securities restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $59.00.
Manulife Financial Price Performance
MFC opened at $42.82 on Monday. The firm has a market cap of $71.16 billion, a PE ratio of 15.98 and a beta of 0.84. The stock has a 50-day moving average price of $42.72 and a 200-day moving average price of $39.09. Manulife Financial Corp has a 1 year low of $30.20 and a 1 year high of $45.33.
Manulife Financial (NYSE:MFC – Get Free Report) (TSE:MFC) last announced its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. Manulife Financial’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. As a group, sell-side analysts anticipate that Manulife Financial Corp will post 3.03 EPS for the current year.
Manulife Financial Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be given a dividend of $0.485 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.94 annualized dividend and a dividend yield of 4.5%. Manulife Financial’s dividend payout ratio (DPR) is 51.49%.
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.
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