22,320 Shares in Manulife Financial Corp $MFC Purchased by Trexquant Investment LP

Key Points

• Trexquant Investment LP has acquired 22,320 shares of Manulife Financial Corp, totaling approximately $695,000, marking the fund's new position in the company.
• Manulife Financial reported a $0.69 EPS for the last quarter, missing analysts' expectations of $0.71, and had a revenue of $11.30 billion.
• The company declared a quarterly dividend of $0.3199 per share, representing a 4.2% yield, with an ex-dividend date of August 20th.

Trexquant Investment LP bought a new position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,320 shares of the financial services provider's stock, valued at approximately $695,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MFC. Lazard Asset Management LLC purchased a new position in Manulife Financial during the fourth quarter valued at approximately $35,000. William B. Walkup & Associates Inc. purchased a new position in Manulife Financial during the first quarter valued at approximately $43,000. NBC Securities Inc. raised its position in Manulife Financial by 178,700.0% during the first quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after acquiring an additional 1,787 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in Manulife Financial during the first quarter valued at approximately $59,000. Finally, Alpine Bank Wealth Management purchased a new position in Manulife Financial during the first quarter valued at approximately $71,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Manulife Financial Price Performance

Manulife Financial stock opened at $30.66 on Monday. The stock has a market capitalization of $52.07 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 1.02 and a beta of 0.99. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $33.07. The business has a 50 day simple moving average of $30.73 and a 200-day simple moving average of $30.61.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The business had revenue of $11.30 billion during the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same period in the previous year, the business earned $0.91 EPS. On average, equities research analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. Manulife Financial's dividend payout ratio (DPR) is presently 56.70%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Royal Bank Of Canada reduced their price target on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Morgan Stanley set a $48.00 price target on Manulife Financial in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Manulife Financial presently has an average rating of "Buy" and a consensus target price of $48.50.

About Manulife Financial

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.

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