Osaic Holdings Inc. Buys 63,476 Shares of Manulife Financial Corp $MFC

Osaic Holdings Inc. grew its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 67.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 157,436 shares of the financial services provider’s stock after acquiring an additional 63,476 shares during the quarter. Osaic Holdings Inc.’s holdings in Manulife Financial were worth $4,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Orion Porfolio Solutions LLC increased its position in Manulife Financial by 21.1% during the second quarter. Orion Porfolio Solutions LLC now owns 47,226 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 8,226 shares during the last quarter. Silverlake Wealth Management LLC purchased a new stake in shares of Manulife Financial during the 2nd quarter valued at about $226,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Manulife Financial in the 2nd quarter worth approximately $227,000. Cape Investment Advisory Inc. lifted its stake in shares of Manulife Financial by 1,089.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,856 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 1,700 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Manulife Financial by 13.4% in the second quarter. Geneos Wealth Management Inc. now owns 8,853 shares of the financial services provider’s stock worth $283,000 after buying an additional 1,045 shares during the last quarter. Institutional investors own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC stock opened at $36.78 on Wednesday. The stock has a fifty day simple moving average of $34.10 and a two-hundred day simple moving average of $32.14. The firm has a market capitalization of $61.83 billion, a PE ratio of 16.34 and a beta of 0.83. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $36.86.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, November 12th. The financial services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.74 by $0.10. Manulife Financial had a return on equity of 16.11% and a net margin of 9.81%.The business had revenue of $12.90 billion for the quarter. During the same quarter in the previous year, the firm earned $1.00 earnings per share. On average, sell-side analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Wednesday, November 26th were issued a dividend of $0.44 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $1.76 dividend on an annualized basis and a yield of 4.8%. Manulife Financial’s payout ratio is 55.56%.

Analysts Set New Price Targets

MFC has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b+)” rating on shares of Manulife Financial in a research note on Monday. Royal Bank Of Canada raised their target price on Manulife Financial from $49.00 to $52.00 and gave the stock an “outperform” rating in a report on Friday, November 14th. UBS Group assumed coverage on Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating for the company. BMO Capital Markets restated an “outperform” rating on shares of Manulife Financial in a research report on Friday, November 14th. Finally, Morgan Stanley set a $51.00 price objective on Manulife Financial in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Manulife Financial presently has an average rating of “Buy” and an average price target of $51.50.

Manulife Financial Company Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.