Cubist Systematic Strategies LLC Makes New $4.85 Million Investment in Manulife Financial Corp $MFC

Key Points

• Cubist Systematic Strategies LLC invested approximately $4.85 million in Manulife Financial Corp, acquiring 155,896 shares in the first quarter.
• Manulife Financial recently announced a quarterly dividend increase to $0.3199 per share, reflecting an annualized dividend of $1.28 and a yield of 4.2%.
• Research analysts have given an average price target of $48.50 for Manulife Financial, with a current stock rating of "Moderate Buy."

Cubist Systematic Strategies LLC bought a new position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 155,896 shares of the financial services provider's stock, valued at approximately $4,853,000.

Other hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at approximately $35,000. William B. Walkup & Associates Inc. purchased a new position in shares of Manulife Financial during the first quarter valued at approximately $43,000. NBC Securities Inc. raised its holdings in shares of 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 purchasing an additional 1,787 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Manulife Financial during the first quarter valued at approximately $59,000. Finally, Ancora Advisors LLC raised its holdings in shares of Manulife Financial by 34.7% during the fourth quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 500 shares during the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 0.0%

Shares of MFC stock opened at $30.50 on Thursday. Manulife Financial Corp has a 12 month low of $25.92 and a 12 month high of $33.07. The stock has a market cap of $51.80 billion, a P/E ratio of 13.61, a P/E/G ratio of 1.03 and a beta of 0.99. The company has a 50 day simple moving average of $30.78 and a two-hundred day simple moving average of $30.60.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its earnings results 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). Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. The business had revenue of $11.30 billion for the quarter. During the same period in the prior year, the company posted $0.91 earnings per share. As a group, equities analysts forecast that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.3199 per share. 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 4.2%. The ex-dividend date of this dividend is Wednesday, August 20th. Manulife Financial's dividend payout ratio is currently 56.70%.

Analyst Ratings Changes

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