Arkadios Wealth Advisors acquired a new stake in shares of Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 41,294 shares of the financial services provider's stock, valued at approximately $1,099,000.
Several other institutional investors also recently bought and sold shares of MFC. Prudential PLC lifted its position in shares of Manulife Financial by 11.1% during the fourth quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider's stock valued at $25,235,000 after buying an additional 114,213 shares during the last quarter. Duality Advisers LP boosted its holdings in Manulife Financial by 795.2% in the first quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider's stock worth $5,439,000 after acquiring an additional 193,343 shares in the last quarter. Alberta Investment Management Corp increased its holdings in shares of Manulife Financial by 21.4% during the fourth quarter. Alberta Investment Management Corp now owns 4,182,203 shares of the financial services provider's stock valued at $92,867,000 after acquiring an additional 737,203 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Manulife Financial by 2,913.7% in the 1st quarter. Bessemer Group Inc. now owns 86,615 shares of the financial services provider's stock valued at $2,163,000 after purchasing an additional 83,741 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in Manulife Financial in the 4th quarter worth approximately $1,846,000. 52.56% of the stock is owned by hedge funds and other institutional investors.
Manulife Financial Stock Up 0.8 %
Shares of NYSE MFC traded up $0.22 during midday trading on Friday, reaching $27.60. 1,212,056 shares of the stock were exchanged, compared to its average volume of 2,802,812. The firm has a 50-day simple moving average of $26.19 and a two-hundred day simple moving average of $25.15. Manulife Financial Co. has a twelve month low of $17.07 and a twelve month high of $27.75. The firm has a market cap of $49.40 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 0.94 and a beta of 1.09.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.28% and a return on equity of 16.27%. The business had revenue of $9.41 billion for the quarter, compared to analyst estimates of $8.95 billion. During the same period in the prior year, the company posted $0.62 EPS. Research analysts expect that Manulife Financial Co. will post 2.72 EPS for the current fiscal year.
Manulife Financial Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, August 21st. Manulife Financial's dividend payout ratio (DPR) is presently 66.86%.
Analyst Ratings Changes
A number of research analysts have issued reports on the stock. TD Securities upped their price target on shares of Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a research note on Friday, June 28th. Dbs Bank raised Manulife Financial to a "strong-buy" rating in a research report on Thursday, August 8th. Finally, National Bank Financial raised Manulife Financial from a "sector perform" rating to an "outperform" rating in a research report on Thursday, May 9th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $35.67.
View Our Latest Research Report on MFC
Manulife Financial Company Profile
(Free Report)
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.
Read More
- Five stocks we like better than Manulife Financial
- TSX Venture Exchange (Formerly Canadian Venture Exchange)
- The Solar Stock Battle: Is Daqo or JinkoSolar Your Next Big Win?
- Why Invest in High-Yield Dividend Stocks?
- Are These Chinese Stocks a Buy? Michael Burry’s Top Picks Say Yes
- Five Below Stock Faces Challenges Despite Strong Revenue Growth
→ J.P. Morgan’s DIRE Warning (From Behind the Markets) (Ad)
Should you invest $1,000 in Manulife Financial right now?
Before you consider Manulife Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manulife Financial wasn't on the list.
While Manulife Financial currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
7 Energy Stocks to Buy and Hold Forever
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
