Kassirer Asset Management Corp held its position in shares of Manulife Financial Corp. (NYSE:MFC) during the second quarter, Holdings Channel reports. The institutional investor owned 11,900 shares of the company’s stock at the end of the second quarter. Kassirer Asset Management Corp’s holdings in Manulife Financial Corp. were worth $163,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the company. Carnick & Kubik LLC acquired a new stake in shares of Manulife Financial Corp. during the first quarter valued at approximately $102,000. BlackRock Institutional Trust Company N.A. acquired a new stake in shares of Manulife Financial Corp. during the first quarter valued at approximately $107,000. Capital One National Association acquired a new stake in shares of Manulife Financial Corp. during the second quarter valued at approximately $140,000. Davis Rea LTD. acquired a new stake in shares of Manulife Financial Corp. during the second quarter valued at approximately $142,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Manulife Financial Corp. by 7.0% in the first quarter. Jones Financial Companies Lllp now owns 11,103 shares of the company’s stock valued at $157,000 after buying an additional 728 shares in the last quarter. 49.50% of the stock is owned by institutional investors.
Shares of Manulife Financial Corp. (NYSE:MFC) traded up 1.15% on Friday, reaching $14.11. 2,349,838 shares of the company’s stock were exchanged. The company’s 50 day moving average price is $13.71 and its 200-day moving average price is $13.94. The stock has a market cap of $27.84 billion, a P/E ratio of 14.62 and a beta of 1.63. Manulife Financial Corp. has a 52-week low of $10.99 and a 52-week high of $17.17.
Manulife Financial Corp. (NYSE:MFC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. Manulife Financial Corp. had a net margin of 4.37% and a return on equity of 8.97%. During the same period last year, the firm posted $0.44 earnings per share. Equities analysts forecast that Manulife Financial Corp. will post $1.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Tuesday, August 16th were issued a $0.141 dividend. The ex-dividend date was Friday, August 12th. This represents a $0.56 dividend on an annualized basis and a yield of 4.00%. Manulife Financial Corp.’s dividend payout ratio (DPR) is presently 61.96%.
Several equities research analysts have recently commented on MFC shares. BMO Capital Markets set a $21.00 price target on shares of Manulife Financial Corp. and gave the stock a “buy” rating in a research report on Friday, August 5th. Dundee Securities started coverage on shares of Manulife Financial Corp. in a research report on Wednesday, September 21st. They set a “buy” rating for the company. Bank of America Corp. began coverage on shares of Manulife Financial Corp. in a research report on Wednesday, August 24th. They set a “buy” rating for the company. TD Securities restated a “hold” rating and set a $19.00 price objective on shares of Manulife Financial Corp. in a report on Wednesday, August 10th. Finally, Zacks Investment Research cut shares of Manulife Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Manulife Financial Corp. currently has an average rating of “Buy” and a consensus price target of $21.00.
About Manulife Financial Corp.
Manulife Financial Corporation (MFC) is a life insurance company. The Company is a holding company of The Manufacturers Life Insurance Company (MLI), a Canadian life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), a Bermuda reinsurance company. The Company’s segments, including Asia Division, Canadian Division, U.S.
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