Coastline Trust Co Acquires 6,830 Shares of Manulife Financial Corp (MFC)

Coastline Trust Co increased its holdings in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 10.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,950 shares of the financial services provider’s stock after purchasing an additional 6,830 shares during the period. Coastline Trust Co’s holdings in Manulife Financial Corp were worth $1,312,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Manulife Financial Corp by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock worth $193,000 after purchasing an additional 2,103 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Manulife Financial Corp by 74.0% in the second quarter. Alliancebernstein L.P. now owns 360,800 shares of the financial services provider’s stock worth $6,769,000 after purchasing an additional 153,418 shares in the last quarter. AXA boosted its holdings in Manulife Financial Corp by 9.0% in the second quarter. AXA now owns 188,098 shares of the financial services provider’s stock worth $3,529,000 after purchasing an additional 15,498 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Manulife Financial Corp by 1.3% in the second quarter. Wells Fargo & Company MN now owns 13,554,829 shares of the financial services provider’s stock worth $254,288,000 after purchasing an additional 176,947 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Manulife Financial Corp by 9.2% in the second quarter. Franklin Resources Inc. now owns 424,074 shares of the financial services provider’s stock worth $7,954,000 after purchasing an additional 35,707 shares in the last quarter. Hedge funds and other institutional investors own 45.97% of the company’s stock.

Shares of Manulife Financial Corp (MFC) opened at 19.77 on Tuesday. Manulife Financial Corp has a 12-month low of $13.38 and a 12-month high of $20.84. The firm’s 50-day moving average is $19.95 and its 200-day moving average is $18.46. The company has a market capitalization of $39.11 billion, a PE ratio of 13.69 and a beta of 1.30.

Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $12.34 billion for the quarter, compared to the consensus estimate of $16.09 billion. During the same period in the previous year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Manulife Financial Corp will post $1.85 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 22nd will be issued a $0.1621 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $0.65 dividend on an annualized basis and a yield of 3.28%. This is an increase from Manulife Financial Corp’s previous quarterly dividend of $0.15. Manulife Financial Corp’s payout ratio is currently 47.83%.

A number of brokerages recently issued reports on MFC. Zacks Investment Research cut shares of Manulife Financial Corp from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub upgraded shares of Manulife Financial Corp from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, ValuEngine cut shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.33.

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About Manulife Financial Corp

Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.

Institutional Ownership by Quarter for Manulife Financial Corp (NYSE:MFC)

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