2 weeks Ago By ABMN Staff
Rhumbline Advisers lessened its stake in shares of Manulife Financial Co. ( NYSE:MFC – Free Report ) (TSE:MFC) by 30.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC).
The firm owned 9,586 shares of the financial services provider’s stock after selling 4,134 shares during the period. Rhumbline Advisers’ holdings in Manulife Financial were worth $255,000 at the end of the most recent reporting period. Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock.
Prudential PLC grew its position in Manulife Financial by 11.1% in the fourth quarter. Prudential PLC now owns 1,141,942 shares of the financial services provider’s stock valued at $25,235,000 after acquiring an additional 114,213 shares during the last quarter.
Duality Advisers LP grew its stake in shares of Manulife Financial by 795.2% in the 1st quarter. Duality Advisers LP now owns 217,658 shares of the financial services provider’s stock valued at $5,439,000 after buying an additional 193,343 shares during the period.
Bessemer Group Inc. lifted its holdings in shares of Manulife Financial by 2,913.7% in the 1st quarter.
Bessemer Group Inc. now owns 86,615 shares of the financial services provider’s stock worth $2,163,000 after purchasing an additional 83,741 shares in the last quarter. Vanguard Group Inc.
increased its position in shares of Manulife Financial by 1.0% during the first quarter. Vanguard Group Inc.
now owns 72,289,251 shares of the financial services provider’s stock worth $1,806,508,000 after acquiring an additional 727,764 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Manulife Financial during the first quarter valued at approximately $1,705,000. 52.
56% of the stock is owned by institutional investors and hedge funds. Wall Street Analyst Weigh In MFC has been the topic of a number of recent analyst reports. TD Securities lifted their price target on Manulife Financial from $38.
00 to $40.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Barclays started coverage on shares of Manulife Financial in a report on Thursday, September 5th.
They set an “equal weight” rating on the stock. Finally, Dbs Bank raised shares of Manulife Financial to a “strong-buy” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company.
According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.
Manulife Financial Trading Down 0.3 % Shares of MFC stock opened at $29.53 on Friday.
The stock has a market capitalization of $52.85 billion, a P/E ratio of 17.17, a P/E/G ratio of 1.
06 and a beta of 1.08. Manulife Financial Co.
has a 12-month low of $17.07 and a 12-month high of $29.88.
The firm’s 50 day moving average is $26.87 and its 200 day moving average is $25.78.
Manulife Financial ( NYSE:MFC – Get Free Report ) (TSE:MFC) last issued its earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.
64 by $0.27. The company had revenue of $9.
41 billion during the quarter, compared to the consensus estimate of $8.95 billion. Manulife Financial had a net margin of 9.
18% and a return on equity of 16.16%. During the same quarter in the prior year, the firm posted $0.
62 EPS. As a group, equities analysts predict that Manulife Financial Co. will post 2.
72 earnings per share for the current year. Manulife Financial Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.
29 per share. The ex-dividend date was Wednesday, August 21st. This represents a $1.
16 dividend on an annualized basis and a dividend yield of 3.93%. Manulife Financial’s dividend payout ratio is 66.
86%. Manulife Financial 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. Further Reading Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co.
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