Graham Capital Management L.P. Has $9.30 Million Holdings in Manulife Financial Corp $MFC

Key Points

• Graham Capital Management L.P. increased its stake in Manulife Financial by 49%, purchasing an additional 98,182 shares, bringing its total to 298,623 shares valued at approximately $9.3 million.
• Analysts have mixed views on Manulife Financial, with a consensus price target of $48.50 and ratings that include two “Buy” and one “Hold” designation.
• Manulife Financial recently announced a quarterly dividend payment of $0.3199, marking an increase from the previous quarter, with an annual yield of 4.2%.

Graham Capital Management L.P. raised its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 49.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 298,623 shares of the financial services provider's stock after buying an additional 98,182 shares during the quarter. Graham Capital Management L.P.'s holdings in Manulife Financial were worth $9,302,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new position in shares of Manulife Financial in the 4th quarter worth approximately $35,000. William B. Walkup & Associates Inc. acquired a new position in Manulife Financial during the first quarter worth $43,000. NBC Securities Inc. grew its stake in shares of Manulife Financial by 178,700.0% in the 1st quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock worth $55,000 after acquiring an additional 1,787 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Manulife Financial in the 1st quarter worth $59,000. Finally, Ancora Advisors LLC grew its position in 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 buying an additional 500 shares during the period. 52.56% of the stock is owned by institutional investors.

Manulife Financial Price Performance

Shares of NYSE:MFC traded up $0.02 during midday trading on Wednesday, reaching $30.50. 1,568,353 shares of the company's stock were exchanged, compared to its average volume of 2,509,487. The stock has a market cap of $51.80 billion, a price-to-earnings ratio of 13.61, a P/E/G ratio of 1.03 and a beta of 0.99. The firm's 50 day simple moving average is $30.80 and its two-hundred day simple moving average is $30.60. Manulife Financial Corp has a fifty-two week low of $25.92 and a fifty-two week high of $33.07.

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

Manulife Financial Increases Dividend

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

Analyst Upgrades and Downgrades

MFC has been the subject of a number of research reports. Royal Bank Of Canada cut their target price 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. Morgan Stanley set a $48.00 target price on shares of Manulife Financial in a report on Monday, August 18th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate 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.