Quantitative Investment Management LLC trimmed its stake in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 36.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,300 shares of the financial services provider’s stock after selling 86,000 shares during the period. Quantitative Investment Management LLC’s holdings in Manulife Financial were worth $3,093,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI grew its holdings in Manulife Financial by 3,803.6% during the third quarter. Citizens Financial Group Inc. RI now owns 6,441 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 6,276 shares during the period. Ferguson Wellman Capital Management Inc. acquired a new stake in Manulife Financial during the fourth quarter worth about $203,000. ProVise Management Group LLC acquired a new stake in Manulife Financial during the fourth quarter worth about $204,000. Lourd Capital LLC purchased a new position in Manulife Financial during the fourth quarter worth approximately $209,000. Finally, Squar Milner Financial Services LLC purchased a new position in Manulife Financial during the fourth quarter worth approximately $212,000. 46.58% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on MFC shares. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Tuesday, January 2nd. National Bank Financial upgraded Manulife Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 24th. Scotiabank restated 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 decreased their target price on Manulife Financial from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 22nd. Finally, ValuEngine upgraded Manulife Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $26.67.
Manulife Financial stock traded down $0.40 during trading on Friday, reaching $18.21. 2,347,490 shares of the company were exchanged, compared to its average volume of 2,591,670. Manulife Financial Co. has a 52-week low of $16.62 and a 52-week high of $22.16. The company has a market cap of $36,110.85, a price-to-earnings ratio of 10.65, a PEG ratio of 0.93 and a beta of 1.34.
Manulife Financial (NYSE:MFC) (TSE:MFC) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.01). Manulife Financial had a return on equity of 11.49% and a net margin of 3.50%. The company had revenue of $12.79 billion for the quarter. equities 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. Investors of record on Wednesday, February 21st were given a dividend of $0.175 per share. 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 dividend on an annualized basis and a yield of 3.84%. Manulife Financial’s dividend payout ratio (DPR) is presently 40.94%.
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Manulife Financial Company Profile
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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