Comerica Bank Sells 4,295 Shares of Manulife Financial Co. (NYSE:MFC)

Share on StockTwits

Comerica Bank trimmed its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,805 shares of the financial services provider’s stock after selling 4,295 shares during the period. Comerica Bank’s holdings in Manulife Financial were worth $2,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MFC. FMR LLC raised its position in shares of Manulife Financial by 26.7% in the 1st quarter. FMR LLC now owns 7,705 shares of the financial services provider’s stock worth $130,000 after acquiring an additional 1,624 shares in the last quarter. Summit Financial Group Inc. bought a new position in shares of Manulife Financial in the 2nd quarter worth $230,000. Hexavest Inc. raised its position in shares of Manulife Financial by 135.3% in the 2nd quarter. Hexavest Inc. now owns 626,181 shares of the financial services provider’s stock worth $11,405,000 after acquiring an additional 360,005 shares in the last quarter. First National Bank of Omaha raised its position in shares of Manulife Financial by 0.6% in the 2nd quarter. First National Bank of Omaha now owns 216,806 shares of the financial services provider’s stock worth $3,942,000 after acquiring an additional 1,241 shares in the last quarter. Finally, Clark Capital Management Group Inc. raised its position in shares of Manulife Financial by 176.8% in the 2nd quarter. Clark Capital Management Group Inc. now owns 2,663,181 shares of the financial services provider’s stock worth $48,417,000 after acquiring an additional 1,700,905 shares in the last quarter. 42.42% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently commented on MFC shares. Desjardins boosted their price target on Manulife Financial from $29.00 to $31.00 in a research report on Friday, November 8th. BMO Capital Markets upped their target price on Manulife Financial from $32.00 to $33.00 in a research report on Friday, November 8th. CIBC upped their target price on Manulife Financial from $27.00 to $29.00 in a research report on Friday, November 8th. National Bank Financial upped their target price on Manulife Financial from $26.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Finally, Canaccord Genuity upped their target price on Manulife Financial from $33.00 to $34.00 in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. Manulife Financial has an average rating of “Buy” and a consensus target price of $29.14.

Shares of NYSE:MFC opened at $19.81 on Friday. The business’s 50-day moving average is $18.55 and its 200 day moving average is $17.89. Manulife Financial Co. has a 1 year low of $13.33 and a 1 year high of $20.08. The firm has a market capitalization of $38.43 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.89 and a beta of 1.43.

Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its earnings results on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.21. Manulife Financial had a return on equity of 12.86% and a net margin of 6.45%. The company had revenue of $17.14 billion for the quarter. During the same period in the prior year, the company earned $0.75 earnings per share. On average, equities analysts predict that Manulife Financial Co. will post 2.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be given a dividend of $0.19 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 3.84%. The ex-dividend date is Monday, November 18th. Manulife Financial’s dividend payout ratio is currently 36.02%.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

Read More: How to Use the New Google Finance Tool

Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC) (TSE:MFC).

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

Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Head-To-Head Analysis: Dime Community Bancshares  vs. First Seacoast Bancorp
Head-To-Head Analysis: Dime Community Bancshares vs. First Seacoast Bancorp
Comerica Bank Sells 4,295 Shares of Manulife Financial Co.
Comerica Bank Sells 4,295 Shares of Manulife Financial Co.
Comerica Bank Buys 37,554 Shares of Trinseo S.A.
Comerica Bank Buys 37,554 Shares of Trinseo S.A.
Comerica Bank Cuts Stock Holdings in United Rentals, Inc.
Comerica Bank Cuts Stock Holdings in United Rentals, Inc.
California Public Employees Retirement System Increases Stake in J & J Snack Foods Corp
California Public Employees Retirement System Increases Stake in J & J Snack Foods Corp
Comerica Bank Decreases Holdings in Franklin Electric Co.
Comerica Bank Decreases Holdings in Franklin Electric Co.


© 2006-2019 Ticker Report