Tacita Capital Inc Makes New $1.18 Million Investment in Manulife Financial Corp $MFC

Tacita Capital Inc acquired a new stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,161 shares of the financial services provider’s stock, valued at approximately $1,180,000.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC grew its stake in Manulife Financial by 33.9% in the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider’s stock valued at $288,000 after buying an additional 2,376 shares during the last quarter. AQR Capital Management LLC lifted its position in Manulife Financial by 179.7% during the first quarter. AQR Capital Management LLC now owns 28,362 shares of the financial services provider’s stock worth $872,000 after acquiring an additional 18,222 shares during the last quarter. Empowered Funds LLC lifted its position in Manulife Financial by 18.7% during the first quarter. Empowered Funds LLC now owns 56,418 shares of the financial services provider’s stock worth $1,757,000 after acquiring an additional 8,900 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Manulife Financial by 13.1% during the second quarter. Sivia Capital Partners LLC now owns 7,843 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 909 shares during the period. Finally, MUFG Securities EMEA plc boosted its holdings in shares of Manulife Financial by 814.3% during the second quarter. MUFG Securities EMEA plc now owns 6,399,999 shares of the financial services provider’s stock worth $204,544,000 after acquiring an additional 5,699,999 shares during the period. 52.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Scotiabank reiterated an “outperform” rating on shares of Manulife Financial in a research note on Friday, August 7th. Royal Bank Of Canada boosted their price target on Manulife Financial from $55.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. TD Securities reaffirmed a “buy” rating on shares of Manulife Financial in a report on Thursday, August 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Manulife Financial in a report on Friday, August 7th. Finally, Weiss Ratings upgraded Manulife Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Manulife Financial presently has a consensus rating of “Buy” and a consensus target price of $59.00.

Manulife Financial Price Performance

Shares of NYSE MFC opened at $43.49 on Thursday. The business has a fifty day moving average price of $42.38 and a two-hundred day moving average price of $38.84. The stock has a market capitalization of $72.28 billion, a PE ratio of 16.23 and a beta of 0.84. Manulife Financial Corp has a fifty-two week low of $29.70 and a fifty-two week high of $45.33.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its earnings results on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.01. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $7.28 billion. Manulife Financial had a return on equity of 16.68% and a net margin of 9.99%.Manulife Financial’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 EPS. On average, equities analysts expect that Manulife Financial Corp will post 3.03 EPS for the current year.

Manulife Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, August 21st will be paid a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, August 21st. Manulife Financial’s dividend payout ratio is presently 53.36%.

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.