Endurance Wealth Management Inc. boosted its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 22.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,153 shares of the financial services provider’s stock after buying an additional 89,630 shares during the quarter. Manulife Financial accounts for approximately 1.5% of Endurance Wealth Management Inc.’s investment portfolio, making the stock its 17th largest position. Endurance Wealth Management Inc.’s holdings in Manulife Financial were worth $9,803,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MFC. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Manulife Financial in the second quarter valued at about $30,000. Compagnie Lombard Odier SCmA purchased a new stake in shares of Manulife Financial during the 2nd quarter worth $38,000. Capital Bank & Trust Co boosted its position in shares of Manulife Financial by 118.0% in the 2nd quarter. Capital Bank & Trust Co now owns 2,409 shares of the financial services provider’s stock worth $44,000 after buying an additional 1,304 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Manulife Financial in the 4th quarter valued at about $61,000. Finally, Cerebellum GP LLC purchased a new position in Manulife Financial in the 3rd quarter valued at about $74,000. 46.77% of the stock is owned by institutional investors and hedge funds.
MFC has been the topic of a number of recent research reports. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Canaccord Genuity upped their price objective on shares of Manulife Financial from $32.00 to $33.00 in a research note on Monday, October 28th. Zacks Investment Research downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a research note on Friday, November 29th. Barclays upped their price objective on shares of Manulife Financial from $27.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday. Finally, CIBC reaffirmed a “buy” rating and set a $29.00 price objective on shares of Manulife Financial in a research note on Wednesday, December 11th.
NYSE:MFC traded down $0.01 during trading hours on Tuesday, hitting $21.07. The stock had a trading volume of 26,833 shares, compared to its average volume of 1,427,877. Manulife Financial Co. has a 1-year low of $15.41 and a 1-year high of $21.23. The business has a 50 day simple moving average of $19.94 and a two-hundred day simple moving average of $18.55. The company has a market cap of $41.15 billion, a PE ratio of 9.99, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.
Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.21. The company had revenue of $17.14 billion during the quarter. Manulife Financial had a net margin of 6.45% and a return on equity of 12.86%. During the same period last year, the business earned $0.75 EPS. As a group, equities research analysts expect that Manulife Financial Co. will post 2.25 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were given a $0.19 dividend. The ex-dividend date was Monday, November 18th. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.19. This represents a $0.76 annualized dividend and a yield of 3.61%. Manulife Financial’s dividend payout ratio (DPR) is currently 36.02%.
Manulife Financial 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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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