Quantinno Capital Management LP Acquires 98,922 Shares of Manulife Financial Corp $MFC

Quantinno Capital Management LP lifted its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 37.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 361,523 shares of the financial services provider’s stock after buying an additional 98,922 shares during the quarter. Quantinno Capital Management LP’s holdings in Manulife Financial were worth $12,451,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MFC. Hoge Financial Services LLC boosted its holdings in Manulife Financial by 0.9% during the 4th quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider’s stock valued at $1,160,000 after acquiring an additional 272 shares during the period. Bridgewater Advisors Inc. lifted its position in shares of Manulife Financial by 3.3% during the first quarter. Bridgewater Advisors Inc. now owns 8,675 shares of the financial services provider’s stock worth $299,000 after purchasing an additional 274 shares during the last quarter. Americana Partners LLC boosted its stake in shares of Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider’s stock valued at $2,143,000 after purchasing an additional 295 shares during the period. Midwest Professional Planners LTD. boosted its stake in shares of Manulife Financial by 1.1% during the first quarter. Midwest Professional Planners LTD. now owns 27,702 shares of the financial services provider’s stock valued at $954,000 after purchasing an additional 305 shares during the period. Finally, Bridges Investment Management Inc. grew its holdings in shares of Manulife Financial by 2.0% in the fourth quarter. Bridges Investment Management Inc. now owns 16,037 shares of the financial services provider’s stock worth $582,000 after purchasing an additional 321 shares during the last quarter. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 0.1%

MFC opened at $44.49 on Tuesday. The company has a market capitalization of $73.95 billion, a price-to-earnings ratio of 17.66 and a beta of 0.84. Manulife Financial Corp has a 12-month low of $29.70 and a 12-month high of $44.89. The business’s fifty day simple moving average is $41.03 and its 200-day simple moving average is $38.26.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, May 13th. The financial services provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.02). Manulife Financial had a net margin of 10.19% and a return on equity of 16.58%. The firm had revenue of $8.89 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. On average, equities research analysts predict that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Stockholders of record on Friday, May 29th were issued a $0.485 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.94 annualized dividend and a dividend yield of 4.4%. Manulife Financial’s payout ratio is currently 56.75%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a research note on Thursday, May 14th. Weiss Ratings cut shares of Manulife Financial from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, July 21st. Zacks Research downgraded shares of Manulife Financial from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 15th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Manulife Financial in a research report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.50.

About Manulife Financial

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.