MANA Advisors LLC bought a new stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,617 shares of the financial services provider’s stock, valued at approximately $534,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Citizens Financial Group Inc. RI increased its position in Manulife Financial by 3,803.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 6,276 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $203,000. ProVise Management Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $204,000. Lourd Capital LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth approximately $209,000. Finally, Squar Milner Financial Services LLC acquired a new stake in Manulife Financial in the 4th quarter worth approximately $212,000. 48.39% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently commented on MFC shares. Zacks Investment Research cut shares of Manulife Financial from a “buy” rating to a “hold” rating in a research note on Thursday, February 22nd. ValuEngine upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Morgan Stanley lowered their target price on shares of Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Thursday, February 22nd. Scotiabank restated a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research note on Wednesday, January 31st. Finally, National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $27.00.
Manulife Financial Co. (NYSE MFC) remained flat at $$18.67 on Friday. 2,404,419 shares of the company’s stock traded hands, compared to its average volume of 2,584,601. The stock has a market capitalization of $37,012.04, a price-to-earnings ratio of 25.23, a PEG ratio of 0.95 and a beta of 1.33. Manulife Financial Co. has a 1 year low of $16.62 and a 1 year high of $22.16.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). The company had revenue of $12.79 billion during the quarter. Manulife Financial had a return on equity of 11.49% and a net margin of 3.50%. research analysts anticipate that Manulife Financial Co. will post 2.07 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st will be issued a dividend of $0.175 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, February 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.75%. Manulife Financial’s dividend payout ratio is presently 94.59%.
COPYRIGHT VIOLATION NOTICE: “MANA Advisors LLC Takes Position in Manulife Financial Co. (MFC)” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this piece on another site, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The correct version of this piece can be viewed at https://ledgergazette.com/2018/03/18/mana-advisors-llc-invests-534000-in-manulife-financial-co-mfc.html.
Manulife Financial Company Profile
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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.