Napatree Capital LLC Invests $232,000 in Manulife Financial Co. (NYSE:MFC)

Napatree Capital LLC acquired a new position in shares of Manulife Financial Co. (NYSE:MFCFree Report) (TSE:MFC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,514 shares of the financial services provider’s stock, valued at approximately $232,000.

Several other institutional investors have also bought and sold shares of MFC. Norges Bank acquired a new stake in Manulife Financial in the 4th quarter valued at $473,568,000. FIL Ltd boosted its stake in Manulife Financial by 750.5% in the 4th quarter. FIL Ltd now owns 9,910,281 shares of the financial services provider’s stock valued at $218,990,000 after buying an additional 8,745,071 shares in the last quarter. TD Asset Management Inc boosted its stake in Manulife Financial by 26.5% in the 4th quarter. TD Asset Management Inc now owns 37,066,418 shares of the financial services provider’s stock valued at $823,074,000 after buying an additional 7,766,870 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Manulife Financial by 47.4% in the 4th quarter. CIBC Asset Management Inc now owns 20,710,186 shares of the financial services provider’s stock valued at $459,108,000 after buying an additional 6,663,997 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in Manulife Financial by 694.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,984,024 shares of the financial services provider’s stock valued at $73,139,000 after buying an additional 3,482,367 shares in the last quarter. Institutional investors and hedge funds own 52.56% of the company’s stock.

Manulife Financial Stock Performance

Shares of MFC opened at $25.64 on Tuesday. The stock has a fifty day moving average price of $24.93 and a two-hundred day moving average price of $23.46. Manulife Financial Co. has a 52-week low of $17.07 and a 52-week high of $26.81. The company has a market cap of $45.89 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 0.92 and a beta of 1.09.

Manulife Financial (NYSE:MFCGet Free Report) (TSE:MFC) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The company had revenue of $9.49 billion during the quarter, compared to the consensus estimate of $8.85 billion. Manulife Financial had a return on equity of 16.27% and a net margin of 9.28%. As a group, research analysts predict that Manulife Financial Co. will post 2.74 EPS for the current fiscal year.

Manulife Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.52%. Manulife Financial’s payout ratio is currently 67.44%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. National Bank Financial raised Manulife Financial from a “sector perform” rating to an “outperform” rating in a research note on Thursday, May 9th. Jefferies Financial Group began coverage on Manulife Financial in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.33.

Check Out Our Latest Stock Report on Manulife Financial

Manulife Financial Company Profile

(Free Report)

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.

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

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