Stevens Capital Management LP bought a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 44,615 shares of the financial services provider’s stock, valued at approximately $798,000.
Several other large investors also recently modified their holdings of the stock. Letko Brosseau & Associates Inc. boosted its position in shares of Manulife Financial by 1.3% during the third quarter. Letko Brosseau & Associates Inc. now owns 19,474,371 shares of the financial services provider’s stock worth $347,875,000 after acquiring an additional 242,475 shares during the last quarter. Bank of Nova Scotia lifted its position in Manulife Financial by 3.9% during the second quarter. Bank of Nova Scotia now owns 14,379,238 shares of the financial services provider’s stock valued at $258,275,000 after purchasing an additional 537,871 shares during the last quarter. Toronto Dominion Bank lifted its position in Manulife Financial by 123.4% during the second quarter. Toronto Dominion Bank now owns 11,548,947 shares of the financial services provider’s stock valued at $210,529,000 after purchasing an additional 6,379,595 shares during the last quarter. Mawer Investment Management Ltd. lifted its position in Manulife Financial by 4.9% during the second quarter. Mawer Investment Management Ltd. now owns 11,126,552 shares of the financial services provider’s stock valued at $200,071,000 after purchasing an additional 524,066 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Manulife Financial by 42.9% during the third quarter. Franklin Resources Inc. now owns 6,499,322 shares of the financial services provider’s stock valued at $116,103,000 after purchasing an additional 1,951,711 shares during the last quarter. Hedge funds and other institutional investors own 46.40% of the company’s stock.
Several equities analysts have commented on MFC shares. Scotiabank reiterated an “average” rating and set a $28.00 price objective on shares of Manulife Financial in a research report on Tuesday, November 13th. TheStreet upgraded shares of Manulife Financial from a “c+” rating to a “b-” rating in a research report on Friday, November 30th. Canaccord Genuity reiterated a “buy” rating on shares of Manulife Financial in a research report on Friday, November 9th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, November 19th. Finally, TD Securities reiterated a “buy” rating on shares of Manulife Financial in a research report on Thursday, November 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Manulife Financial presently has a consensus rating of “Buy” and a consensus price target of $24.33.
Shares of MFC opened at $15.20 on Friday. Manulife Financial Co. has a twelve month low of $14.99 and a twelve month high of $22.16. The firm has a market capitalization of $30.76 billion, a PE ratio of 8.89, a PEG ratio of 0.75 and a beta of 1.29.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.25. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. The business had revenue of $6.15 billion for the quarter. During the same period in the prior year, the company posted $0.53 EPS. As a group, sell-side analysts expect that Manulife Financial Co. will post 2.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, November 19th. This represents a $0.76 annualized dividend and a dividend yield of 5.00%. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s dividend payout ratio is currently 44.44%.
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Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance through insurance agents, brokers, banks, financial planners, and direct marketing.
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