Manulife Financial Co. (MFC) Position Lessened by Mawer Investment Management Ltd.

Mawer Investment Management Ltd. trimmed its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 10,400,012 shares of the financial services provider’s stock after selling 338,371 shares during the period. Manulife Financial makes up approximately 1.8% of Mawer Investment Management Ltd.’s holdings, making the stock its 21st largest holding. Mawer Investment Management Ltd.’s holdings in Manulife Financial were worth $217,155,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MFC. Citizens Financial Group Inc. RI boosted 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 acquiring an additional 6,276 shares in the last quarter. Ferguson Wellman Capital Management Inc. bought a new stake in Manulife Financial during the 4th quarter valued at approximately $203,000. ProVise Management Group LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $204,000. Lourd Capital LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $209,000. Finally, Squar Milner Financial Services LLC bought a new stake in Manulife Financial during the 4th quarter valued at approximately $212,000. 47.06% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have weighed in on MFC. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Tuesday, February 6th. Scotiabank reaffirmed a “buy” rating and set a $31.00 price objective on shares of Manulife Financial in a research report on Wednesday, January 31st. Finally, National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Manulife Financial currently has an average rating of “Buy” and a consensus price target of $26.67.

Shares of Manulife Financial Co. (MFC) opened at $19.85 on Tuesday. Manulife Financial Co. has a 12-month low of $16.62 and a 12-month high of $22.16. The company has a market capitalization of $39,351.32, a P/E ratio of 11.54, a PEG ratio of 1.01 and a beta of 1.28.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 19th. Investors of record on Wednesday, February 21st will be issued a $0.175 dividend. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.16. This represents a $0.70 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Tuesday, February 20th. Manulife Financial’s payout ratio is presently 86.49%.

TRADEMARK VIOLATION WARNING: “Manulife Financial Co. (MFC) Position Lessened by Mawer Investment Management Ltd.” was first posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are viewing this piece of content on another domain, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thelincolnianonline.com/2018/02/20/manulife-financial-co-mfc-position-lessened-by-mawer-investment-management-ltd.html.

Manulife Financial 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.

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 Co. (NYSE:MFC) (TSE:MFC).

Institutional Ownership by Quarter for Manulife Financial (NYSE: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.

Leave a Reply