Timbercreek Asset Management Ltd. held its position in shares of Manulife Financial Corp (NYSE:MFC) (TSE:MFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,309 shares of the financial services provider’s stock at the close of the 2nd quarter. Timbercreek Asset Management Ltd.’s holdings in Manulife Financial Corp were worth $2,576,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. boosted its position in shares of Manulife Financial Corp by 17.5% in the second quarter. D.A. Davidson & CO. now owns 6,768 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 1,010 shares during the period. Pennsylvania Trust Co bought a new stake in shares of Manulife Financial Corp in the second quarter valued at approximately $234,000. Sadoff Investment Management LLC bought a new stake in shares of Manulife Financial Corp in the second quarter valued at approximately $188,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Manulife Financial Corp by 25.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,284 shares of the financial services provider’s stock valued at $193,000 after acquiring an additional 2,103 shares during the period. Finally, YHB Investment Advisors Inc. bought a new stake in shares of Manulife Financial Corp in the second quarter valued at approximately $202,000. 45.96% of the stock is owned by institutional investors.
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Several research firms have recently weighed in on MFC. BidaskClub raised Manulife Financial Corp from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine cut Manulife Financial Corp from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Zacks Investment Research cut Manulife Financial Corp from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $23.33.
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, topping analysts’ consensus estimates of $0.41 by $0.01. The business had revenue of $12.34 billion for the quarter, compared to analyst estimates of $16.09 billion. During the same period in the previous year, the firm posted $0.40 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 19th. Investors of record on Tuesday, August 22nd were issued a dividend of $0.1621 per share. The ex-dividend date was Friday, August 18th. This is a positive change from Manulife Financial Corp’s previous quarterly dividend of $0.15. This represents a $0.65 dividend on an annualized basis and a dividend yield of 3.27%. Manulife Financial Corp’s payout ratio is presently 47.83%.
Manulife Financial Corp Profile
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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