First Personal Financial Services decreased its position in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,621 shares of the financial services provider’s stock after selling 821 shares during the period. First Personal Financial Services’ holdings in Manulife Financial Corp were worth $124,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of MFC. Creative Planning raised its position in Manulife Financial Corp by 6.6% in the first quarter. Creative Planning now owns 28,090 shares of the financial services provider’s stock valued at $498,000 after buying an additional 1,744 shares during the period. Huntington National Bank raised its position in Manulife Financial Corp by 220.4% in the first quarter. Huntington National Bank now owns 10,354 shares of the financial services provider’s stock valued at $184,000 after buying an additional 7,122 shares during the period. Korea Investment CORP raised its position in Manulife Financial Corp by 269.0% in the first quarter. Korea Investment CORP now owns 1,160,497 shares of the financial services provider’s stock valued at $20,527,000 after buying an additional 845,997 shares during the period. Acadian Asset Management LLC raised its position in Manulife Financial Corp by 22.9% in the first quarter. Acadian Asset Management LLC now owns 467,700 shares of the financial services provider’s stock valued at $8,273,000 after buying an additional 87,200 shares during the period. Finally, Howard Hughes Medical Institute purchased a new position in Manulife Financial Corp during the first quarter valued at $155,000. 48.30% of the stock is owned by institutional investors.
Shares of Manulife Financial Corp (NYSE:MFC) opened at 19.47 on Monday. The firm has a market cap of $38.51 billion, a PE ratio of 13.50 and a beta of 1.30. Manulife Financial Corp has a 52 week low of $13.16 and a 52 week high of $20.84. The firm’s 50-day moving average is $19.90 and its 200 day moving average is $18.40.
Manulife Financial Corp (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The firm had revenue of $12.34 billion during the quarter, compared to analyst estimates of $16.09 billion. During the same period last year, the company posted $0.40 EPS. Equities research analysts forecast that Manulife Financial Corp will post $1.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Shareholders of record on Tuesday, August 22nd will be issued a $0.1621 dividend. This is a positive change from Manulife Financial Corp’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, August 18th. This represents a $0.65 annualized dividend and a yield of 3.33%. Manulife Financial Corp’s dividend payout ratio is 47.83%.
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Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating in a report on Tuesday, June 13th. National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Manulife Financial Corp in a report on Wednesday, May 3rd. Zacks Investment Research raised shares of Manulife Financial Corp from a “sell” rating to a “hold” rating and set a $22.00 target price for the company in a report on Monday, July 10th. Finally, ValuEngine lowered shares of Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.33.
About Manulife Financial Corp
Manulife Financial Corporation (MFC) is a holding company of The Manufacturers Life Insurance Company (MLI), which is a life insurance company, and John Hancock Reassurance Company Ltd. (JHRECO), which is a reinsurance company. The Company operates as a financial services company with principal operations in Asia, Canada and the United States.
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