Manulife Financial Sees Unusually Large Options Volume (MFC)

Manulife Financial Co. (NYSE:MFC) (TSE:MFC) saw some unusual options trading activity on Tuesday. Investors bought 1,636 call options on the company. This represents an increase of 2,456% compared to the typical daily volume of 64 call options.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. KMG Fiduciary Partners LLC purchased a new stake in Manulife Financial in the 1st quarter worth approximately $211,000. Landsberg Bennett & Dubbaneh LLC purchased a new stake in Manulife Financial in the 1st quarter worth approximately $373,000. Truvestments Capital LLC purchased a new stake in Manulife Financial in the 1st quarter worth approximately $141,000. Davis Rea LTD. purchased a new stake in Manulife Financial in the 1st quarter worth approximately $172,000. Finally, We Are One Seven LLC lifted its stake in Manulife Financial by 93.4% in the 1st quarter. We Are One Seven LLC now owns 22,714 shares of the financial services provider’s stock worth $384,000 after purchasing an additional 10,970 shares in the last quarter. Institutional investors and hedge funds own 48.40% of the company’s stock.

A number of brokerages recently commented on MFC. Zacks Investment Research upgraded shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, March 26th. Barclays restated a “buy” rating on shares of Manulife Financial in a research note on Thursday, January 10th. Finally, ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.33.

NYSE MFC opened at $18.38 on Wednesday. Manulife Financial has a 1 year low of $13.33 and a 1 year high of $19.63. The company has a market capitalization of $38.25 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 0.83 and a beta of 1.37.

Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its earnings results on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.15. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. The business had revenue of $6.44 billion for the quarter. During the same quarter in the prior year, the company earned $0.59 earnings per share. As a group, equities analysts anticipate that Manulife Financial will post 2.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Wednesday, February 27th were paid a $0.1883 dividend. This represents a $0.75 annualized dividend and a yield of 4.10%. The ex-dividend date of this dividend was Tuesday, February 26th. Manulife Financial’s dividend payout ratio is presently 36.02%.

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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; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.

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