Emerald Investment Advisers LLC Invests $1.83 Million in Manulife Financial Corp $MFC

Key Points

• Emerald Investment Advisers initiated a $1.83 million position in Manulife Financial, purchasing 45,132 shares during the second quarter. Institutional investors collectively own 52.56% of the company.
• Manulife reported quarterly earnings of $0.79 per share, slightly exceeding estimates, while revenue rose 7.3% year over year. Shares opened at $42.54, near their 52-week high of $45.33.
• The company declared a quarterly dividend of $0.485 per share, equivalent to a 4.6% annualized yield. Analysts maintain a generally positive outlook, with a consensus “Buy” rating and an average price target of $59.

Emerald Investment Advisers LLC bought a new stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 45,132 shares of the financial services provider's stock, valued at approximately $1,828,000.

A number of other institutional investors have also recently made changes to their positions in the business. Hoge Financial Services LLC grew its position in Manulife Financial by 0.9% in the fourth quarter. Hoge Financial Services LLC now owns 31,975 shares of the financial services provider's stock worth $1,160,000 after acquiring an additional 272 shares in the last quarter. Bridgewater Advisors Inc. increased its stake in Manulife Financial by 3.3% during the first quarter. Bridgewater Advisors Inc. now owns 8,675 shares of the financial services provider's stock worth $299,000 after acquiring an additional 274 shares during the last quarter. Baron Wealth Management LLC raised its position in Manulife Financial by 2.4% during the second quarter. Baron Wealth Management LLC now owns 12,432 shares of the financial services provider's stock valued at $504,000 after purchasing an additional 291 shares during the period. Americana Partners LLC raised its position in Manulife Financial by 0.5% during the fourth quarter. Americana Partners LLC now owns 59,081 shares of the financial services provider's stock valued at $2,143,000 after purchasing an additional 295 shares during the period. Finally, Midwest Professional Planners LTD. lifted its stake in shares of Manulife Financial by 1.1% in the 1st quarter. Midwest Professional Planners LTD. now owns 27,702 shares of the financial services provider's stock valued at $954,000 after purchasing an additional 305 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Manulife Financial Trading Up 0.2%

Shares of MFC opened at $42.54 on Friday. The firm has a market capitalization of $70.70 billion, a P/E ratio of 15.87 and a beta of 0.84. Manulife Financial Corp has a 12-month low of $29.77 and a 12-month high of $45.33. The firm has a fifty day moving average price of $42.48 and a 200-day moving average price of $38.90.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings results on Wednesday, August 5th. The financial services provider reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.01. The firm had revenue of $2.22 billion for the quarter, compared to analysts' expectations of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share. Analysts predict that Manulife Financial Corp will post 3.03 earnings per share for the current year.

Manulife Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 21st. Shareholders of record on Friday, August 21st will be given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Friday, August 21st. Manulife Financial's payout ratio is 53.36%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Scotiabank reiterated an "outperform" rating on shares of Manulife Financial in a report on Friday, August 7th. Zacks Research lowered Manulife Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. Royal Bank Of Canada increased their price target on Manulife Financial from $55.00 to $67.00 and gave the company an "outperform" rating in a report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating on shares of Manulife Financial in a research report on Friday, August 7th. Finally, TD Securities reaffirmed a "buy" rating on shares of Manulife Financial in a research note on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Manulife Financial has an average rating of "Buy" and an average target price of $59.00.

Manulife Financial Profile

Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.

In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.

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