Ascent Group LLC Buys Shares of 8,744 Manulife Financial Corp $MFC

Key Points

• Ascent Group LLC has acquired a new position in Manulife Financial Corp, purchasing 8,744 shares valued at approximately $272,000 in the first quarter.
• Manulife Financial recently reported $0.69 EPS for the last quarter, which missed the consensus estimate of $0.71, while having a revenue of $11.30 billion.
• The company declared a quarterly dividend of $0.3199 per share, increasing from the previous $0.32, indicating a dividend yield of 4.0% and a payout ratio of 56.70%.

Ascent Group LLC acquired a new position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,744 shares of the financial services provider's stock, valued at approximately $272,000.

Several other large investors also recently modified their holdings of the business. JCIC Asset Management Inc. lifted its stake in shares of Manulife Financial by 5.6% in the first quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock worth $210,000 after acquiring an additional 360 shares in the last quarter. Blair William & Co. IL increased its holdings in Manulife Financial by 1.9% during the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock worth $619,000 after purchasing an additional 377 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Manulife Financial by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 444 shares in the last quarter. Napatree Capital LLC boosted its stake in shares of Manulife Financial by 4.7% during the 1st quarter. Napatree Capital LLC now owns 10,279 shares of the financial services provider's stock valued at $320,000 after buying an additional 465 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of Manulife Financial by 0.8% during the 1st quarter. United Services Automobile Association now owns 60,000 shares of the financial services provider's stock valued at $1,848,000 after buying an additional 471 shares during the last quarter. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Down 0.8%

Manulife Financial stock traded down $0.26 during mid-day trading on Wednesday, reaching $31.24. The company's stock had a trading volume of 463,393 shares, compared to its average volume of 2,284,300. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07. The business has a 50 day moving average price of $30.73 and a 200-day moving average price of $30.65. The firm has a market cap of $52.93 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.08 and a beta of 0.99.

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

Manulife Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. The ex-dividend date is Wednesday, August 20th. This is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a yield of 4.1%. Manulife Financial's payout ratio is presently 56.70%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MFC. Royal Bank Of Canada dropped their price target on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Morgan Stanley set a $48.00 price objective on shares of Manulife Financial in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $48.50.

Manulife Financial Profile

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.