PNC Financial Services Group Inc. lowered its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 3.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 63,910 shares of the financial services provider’s stock after selling 2,412 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Manulife Financial were worth $906,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Morgan Stanley grew its stake in shares of Manulife Financial by 15.1% in the 3rd quarter. Morgan Stanley now owns 2,568,231 shares of the financial services provider’s stock worth $45,919,000 after buying an additional 336,398 shares during the last quarter. Weather Gauge Advisory LLC purchased a new stake in shares of Manulife Financial in the 4th quarter worth approximately $1,132,000. Endurance Wealth Management Inc. grew its stake in shares of Manulife Financial by 7.0% in the 4th quarter. Endurance Wealth Management Inc. now owns 340,398 shares of the financial services provider’s stock worth $4,830,000 after buying an additional 22,150 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Manulife Financial by 62.9% in the 3rd quarter. Janus Henderson Group PLC now owns 5,862,471 shares of the financial services provider’s stock worth $104,791,000 after buying an additional 2,263,264 shares during the last quarter. Finally, BB&T Corp grew its stake in shares of Manulife Financial by 5.5% in the 4th quarter. BB&T Corp now owns 79,501 shares of the financial services provider’s stock worth $1,128,000 after buying an additional 4,121 shares during the last quarter. Institutional investors own 47.87% of the company’s stock.
NYSE MFC opened at $16.85 on Friday. The firm has a market cap of $33.53 billion, a PE ratio of 7.99, a PEG ratio of 0.77 and a beta of 1.37. Manulife Financial Co. has a 1-year low of $13.33 and a 1-year high of $19.63.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings results on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The firm had revenue of $6.44 billion for the quarter. Manulife Financial had a return on equity of 13.51% and a net margin of 12.34%. During the same period in the previous year, the company earned $0.59 earnings per share. On average, sell-side analysts predict that Manulife Financial Co. will post 2.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 27th will be paid a $0.1883 dividend. The ex-dividend date of this dividend is Tuesday, February 26th. This represents a $0.75 annualized dividend and a dividend yield of 4.47%. Manulife Financial’s dividend payout ratio (DPR) is 36.02%.
MFC has been the topic of several recent research reports. TheStreet upgraded Manulife Financial from a “c+” rating to a “b-” rating in a research note on Friday, November 30th. ValuEngine raised Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. Zacks Investment Research cut Manulife Financial from a “strong-buy” rating to a “hold” rating in a report on Monday, January 14th. Finally, Barclays reissued a “buy” rating on shares of Manulife Financial in a report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $24.33.
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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.
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