Vanguard Group Inc. raised its position in Manulife Financial Corp. (NYSE:MFC) by 12.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 37,453,287 shares of the company’s stock after buying an additional 4,055,711 shares during the period. Vanguard Group Inc. owned approximately 1.91% of Manulife Financial Corp. worth $511,986,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Manulife Financial Corp. during the fourth quarter worth $52,612,000. Commonwealth Equity Services Inc boosted its position in Manulife Financial Corp. by 0.5% in the first quarter. Commonwealth Equity Services Inc now owns 122,972 shares of the company’s stock worth $1,738,000 after buying an additional 586 shares during the last quarter. Virginia Retirement System acquired a new position in Manulife Financial Corp. during the first quarter worth $291,000. IFP Advisors Inc boosted its position in Manulife Financial Corp. by 2.7% in the first quarter. IFP Advisors Inc now owns 17,233 shares of the company’s stock worth $244,000 after buying an additional 452 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new position in Manulife Financial Corp. during the first quarter worth $759,000. 49.50% of the stock is owned by institutional investors.
Shares of Manulife Financial Corp. (NYSE:MFC) traded down 0.57% on Monday, reaching $14.03. The company had a trading volume of 288,663 shares. The firm has a 50-day moving average price of $13.71 and a 200 day moving average price of $13.94. The firm has a market capitalization of $27.68 billion, a price-to-earnings ratio of 14.71 and a beta of 1.56. Manulife Financial Corp. has a 1-year low of $10.99 and a 1-year high of $17.17.
Manulife Financial Corp. (NYSE:MFC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.04. Manulife Financial Corp. had a return on equity of 8.97% and a net margin of 4.37%. During the same period last year, the firm posted $0.44 EPS. Equities research analysts predict that Manulife Financial Corp. will post $1.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Shareholders of record on Tuesday, August 16th were issued a $0.141 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Friday, August 12th. Manulife Financial Corp.’s dividend payout ratio is presently 61.96%.
A number of equities analysts recently weighed in on MFC shares. Canaccord Genuity reaffirmed a “hold” rating on shares of Manulife Financial Corp. in a report on Monday, June 13th. Zacks Investment Research cut Manulife Financial Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. CIBC cut Manulife Financial Corp. from a “sector outperform” rating to a “sector perform” rating in a report on Thursday, August 4th. Macquarie cut Manulife Financial Corp. from an “outperform” rating to a “neutral” rating in a report on Thursday, August 4th. Finally, BMO Capital Markets set a $21.00 target price on Manulife Financial Corp. and gave the company a “buy” rating in a report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Manulife Financial Corp. currently has a consensus rating of “Buy” and a consensus price target of $21.00.
Manulife Financial Corp. Company Profile
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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