O Shaughnessy Asset Management LLC lowered its position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 2.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,435,072 shares of the financial services provider’s stock after selling 39,946 shares during the quarter. O Shaughnessy Asset Management LLC owned approximately 0.07% of Manulife Financial worth $25,407,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cerebellum GP LLC acquired a new position in shares of Manulife Financial in the 3rd quarter valued at $149,000. Truvestments Capital LLC acquired a new position in shares of Manulife Financial in the 3rd quarter valued at $149,000. MUFG Americas Holdings Corp boosted its holdings in shares of Manulife Financial by 61.0% in the 2nd quarter. MUFG Americas Holdings Corp now owns 8,343 shares of the financial services provider’s stock valued at $150,000 after purchasing an additional 3,160 shares during the last quarter. ProVise Management Group LLC acquired a new position in shares of Manulife Financial in the 2nd quarter valued at $191,000. Finally, We Are One Seven LLC acquired a new position in shares of Manulife Financial in the 3rd quarter valued at $227,000. Hedge funds and other institutional investors own 46.21% of the company’s stock.
Shares of MFC stock opened at $16.90 on Friday. Manulife Financial Co. has a 52 week low of $14.99 and a 52 week high of $22.16. The firm has a market capitalization of $32.47 billion, a PE ratio of 8.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 19th. Stockholders of record on Tuesday, November 20th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Monday, November 19th. This is an increase from Manulife Financial’s previous quarterly dividend of $0.17. Manulife Financial’s dividend payout ratio (DPR) is currently 39.77%.
MFC has been the topic of a number of research analyst reports. TheStreet lowered shares of Manulife Financial from a “b-” rating to a “c+” rating in a report on Monday, October 15th. Desjardins reiterated a “buy” rating on shares of Manulife Financial in a report on Tuesday, October 16th. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Friday, October 5th. ValuEngine lowered shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Thursday, August 2nd. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Manulife Financial in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.67.
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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 through insurance agents, brokers, banks, financial planners, and direct marketing.
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