Manulife Financial Co. (MFC) Shares Bought by Bank of America Corp DE

Bank of America Corp DE lifted its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,424,425 shares of the financial services provider’s stock after acquiring an additional 38,361 shares during the quarter. Bank of America Corp DE’s holdings in Manulife Financial were worth $115,447,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of MFC. M&T Bank Corp lifted its position in shares of Manulife Financial by 16.3% in the 1st quarter. M&T Bank Corp now owns 51,911 shares of the financial services provider’s stock valued at $964,000 after acquiring an additional 7,291 shares in the last quarter. Aperio Group LLC lifted its position in shares of Manulife Financial by 8.6% in the 1st quarter. Aperio Group LLC now owns 458,757 shares of the financial services provider’s stock valued at $8,524,000 after acquiring an additional 36,452 shares in the last quarter. Neuberger Berman Group LLC lifted its position in shares of Manulife Financial by 10.8% in the 1st quarter. Neuberger Berman Group LLC now owns 169,170 shares of the financial services provider’s stock valued at $3,141,000 after acquiring an additional 16,444 shares in the last quarter. Korea Investment CORP lifted its position in shares of Manulife Financial by 3.4% in the 1st quarter. Korea Investment CORP now owns 1,189,395 shares of the financial services provider’s stock valued at $22,067,000 after acquiring an additional 39,530 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Manulife Financial by 12.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 59,769 shares of the financial services provider’s stock valued at $1,111,000 after acquiring an additional 6,649 shares in the last quarter. Institutional investors and hedge funds own 46.14% of the company’s stock.

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Manulife Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Evercore ISI assumed coverage on shares of Manulife Financial in a research note on Tuesday, July 10th. They issued an “in-line” rating on the stock. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 2nd. Finally, Morgan Stanley dropped their price objective on shares of Manulife Financial from $27.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Manulife Financial has an average rating of “Hold” and an average price target of $26.33.

Manulife Financial stock opened at $17.70 on Monday. The company has a market capitalization of $34.64 billion, a price-to-earnings ratio of 10.35, a P/E/G ratio of 0.86 and a beta of 1.28. Manulife Financial Co. has a twelve month low of $17.44 and a twelve month high of $22.16.

Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.21. The firm had revenue of $10.59 billion for the quarter. Manulife Financial had a net margin of 4.22% and a return on equity of 12.69%. During the same quarter in the prior year, the company posted $0.57 EPS. equities research analysts expect that Manulife Financial Co. will post 2.03 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 19th. Stockholders of record on Tuesday, August 21st will be paid a dividend of $0.169 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Monday, August 20th. This represents a $0.68 annualized dividend and a dividend yield of 3.82%. Manulife Financial’s dividend payout ratio is 39.77%.

Manulife Financial Company Profile

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 through insurance agents, brokers, banks, financial planners, and direct marketing.

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

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