Pictet Asset Management Ltd. purchased a new stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 698,979 shares of the financial services provider’s stock, valued at approximately $12,486,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Cerebellum GP LLC purchased a new stake in shares of Manulife Financial in the third quarter valued at about $149,000. MUFG Americas Holdings Corp lifted its holdings in shares of Manulife Financial by 61.0% in the second quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 3,160 shares in the last quarter. Truvestments Capital LLC purchased a new stake in shares of Manulife Financial in the third quarter valued at about $149,000. ProVise Management Group LLC purchased a new stake in shares of Manulife Financial in the second quarter valued at about $191,000. Finally, We Are One Seven LLC purchased a new position in shares of Manulife Financial during the third quarter valued at approximately $227,000. 46.40% of the stock is currently owned by institutional investors.
Shares of MFC stock opened at $15.50 on Friday. Manulife Financial Co. has a one year low of $14.99 and a one year high of $22.16. The company has a market cap of $32.03 billion, a P/E ratio of 9.06, a P/E/G ratio of 0.78 and a beta of 1.29.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 7th. The financial services provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.50 by $0.25. Manulife Financial had a net margin of 5.49% and a return on equity of 13.70%. The firm had revenue of $6.15 billion during the quarter. During the same period last year, the company posted $0.53 EPS. Equities research analysts expect that Manulife Financial Co. will post 2.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 19th. Investors of record on Tuesday, November 20th will be given a dividend of $0.19 per share. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.17. The ex-dividend date is Monday, November 19th. This represents a $0.76 annualized dividend and a yield of 4.90%. Manulife Financial’s dividend payout ratio is 44.44%.
Several equities analysts recently issued reports on MFC shares. Desjardins reissued a “buy” rating on shares of Manulife Financial in a research note on Tuesday, October 16th. TheStreet raised shares of Manulife Financial from a “c+” rating to a “b-” rating in a research note on Friday, November 30th. Zacks Investment Research reissued a “hold” rating on shares of Manulife Financial in a research note on Tuesday, November 13th. Canaccord Genuity reissued a “buy” rating on shares of Manulife Financial in a research note on Friday, November 9th. Finally, TD Securities reissued a “buy” rating on shares of Manulife Financial in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $24.33.
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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.
See Also: Depreciation
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