Empirical Financial Services LLC d.b.a. Empirical Wealth Management Invests $323,000 in Manulife Financial Corp $MFC

Key Points

• Empirical Financial Services LLC invested approximately $323,000 in Manulife Financial Corp, acquiring 10,113 shares of the financial services provider's stock in the 2nd quarter.
• Manulife Financial reported a EPS of $0.69 for the last quarter, missing analysts' estimates by $0.02, with revenue of $11.30 billion.
• The company recently increased its quarterly dividend to $0.3199 per share, reflecting a dividend yield of 4.0% and a payout ratio of 56.70%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,113 shares of the financial services provider's stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. William B. Walkup & Associates Inc. purchased a new stake in Manulife Financial in the first quarter valued at $43,000. NBC Securities Inc. increased its position 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 worth $55,000 after purchasing an additional 1,787 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Manulife Financial during the second quarter worth about $55,000. Carderock Capital Management Inc. purchased a new stake in shares of Manulife Financial in the 2nd quarter valued at about $58,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Manulife Financial in the 1st quarter valued at about $59,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Trading Up 1.0%

NYSE:MFC opened at $32.29 on Tuesday. Manulife Financial Corp has a 12-month low of $25.92 and a 12-month high of $33.07. The stock's 50 day simple moving average is $30.88 and its 200-day simple moving average is $30.82. The firm has a market cap of $54.72 billion, a P/E ratio of 14.42, a PEG ratio of 1.07 and a beta of 0.98.

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 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The firm 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 quarter last year, the business posted $0.91 EPS. Research analysts forecast 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 was paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th were paid a dividend of $0.3199 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. The ex-dividend date was Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is presently 56.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MFC shares. Weiss Ratings reiterated a "buy (a-)" rating on shares of Manulife Financial in a research note on Saturday, September 27th. Morgan Stanley set a $48.00 target price on shares of Manulife Financial in a report on Monday, August 18th. Finally, Royal Bank Of Canada reduced 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 report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average 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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