Jane Street Group LLC grew its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 461,100 shares of the financial services provider’s stock after acquiring an additional 35,995 shares during the period. Jane Street Group LLC’s holdings in Manulife Financial were worth $9,618,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MFC. Citizens Financial Group Inc. RI grew its holdings in Manulife Financial by 3,803.6% in the third quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 6,276 shares during the period. Ferguson Wellman Capital Management Inc. purchased a new position in shares of Manulife Financial in the fourth quarter valued at $203,000. Squar Milner Financial Services LLC purchased a new position in shares of Manulife Financial in the fourth quarter valued at $212,000. ProVise Management Group LLC purchased a new position in shares of Manulife Financial in the fourth quarter valued at $204,000. Finally, Lourd Capital LLC purchased a new position in shares of Manulife Financial in the fourth quarter valued at $209,000. 46.58% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on MFC. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, January 2nd. National Bank Financial upgraded shares of Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Scotiabank reiterated a “buy” rating and issued a $31.00 target price on shares of Manulife Financial in a research report on Wednesday, January 31st. Morgan Stanley reduced their price objective on shares of Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating for the company in a research report on Thursday, February 22nd. Finally, ValuEngine upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $26.67.
Shares of NYSE MFC traded down $0.40 during mid-day trading on Friday, reaching $18.21. The company had a trading volume of 2,347,490 shares, compared to its average volume of 2,591,670. The firm has a market capitalization of $36,904.06, a price-to-earnings ratio of 10.65, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34. Manulife Financial Co. has a 12-month low of $16.62 and a 12-month high of $22.16.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). Manulife Financial had a net margin of 3.50% and a return on equity of 11.49%. The company had revenue of $12.79 billion for the quarter. equities research analysts predict that Manulife Financial Co. will post 2.07 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 19th. Stockholders of record on Wednesday, February 21st were paid a $0.175 dividend. This is an increase from Manulife Financial’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, February 20th. This represents a $0.70 annualized dividend and a dividend yield of 3.84%. Manulife Financial’s dividend payout ratio (DPR) is presently 40.94%.
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About Manulife Financial
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.
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