PEAK6 Investments L.P. lessened its holdings in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 68.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,823 shares of the financial services provider’s stock after selling 21,777 shares during the period. PEAK6 Investments L.P.’s holdings in Manulife Financial were worth $205,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. Citizens Financial Group Inc. RI raised its position in shares of Manulife Financial by 3,803.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 6,276 shares during the last quarter. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Manulife Financial in the 4th quarter worth about $203,000. Squar Milner Financial Services LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth about $212,000. ProVise Management Group LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth about $204,000. Finally, Lourd Capital LLC purchased a new position in shares of Manulife Financial in the 4th quarter worth about $209,000. Hedge funds and other institutional investors own 48.39% of the company’s stock.
Manulife Financial Co. (MFC) opened at $18.67 on Friday. Manulife Financial Co. has a 52-week low of $16.62 and a 52-week high of $22.16. The firm has a market capitalization of $37,012.04, a PE ratio of 25.23, a price-to-earnings-growth ratio of 0.95 and a beta of 1.33.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). Manulife Financial had a return on equity of 11.49% and a net margin of 3.50%. The business had revenue of $12.79 billion during the quarter. 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. Shareholders of record on Wednesday, February 21st will be given a $0.175 dividend. 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 yield of 3.75%. Manulife Financial’s payout ratio is 94.59%.
Several research firms have recently issued reports on MFC. Zacks Investment Research raised Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Tuesday, January 2nd. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Scotiabank reaffirmed a “buy” rating and issued a $31.00 price target on shares of Manulife Financial in a research report on Wednesday, January 31st. Morgan Stanley lowered their price target on Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Finally, ValuEngine raised Manulife Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Manulife Financial currently has a consensus rating of “Buy” and a consensus price target of $27.00.
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.
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