Heritage Financial Services LLC Acquires New Holdings in Manulife Financial Corp $MFC

Key Points

• Heritage Financial Services LLC invested $471,000 in Manulife Financial Corp, acquiring 15,107 shares according to their recent 13F filing with the SEC.
• Manulife Financial recently declared a quarterly dividend of $0.3199 per share, representing a 4.2% dividend yield and a slight increase from the previous quarter's dividend.
• Despite a reported EPS of $0.69 missing the consensus estimate of $0.71, analysts maintain a consensus rating of "Moderate Buy" for the stock, with an average price target of $48.50.

Heritage Financial Services LLC purchased a new position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 15,107 shares of the financial services provider's stock, valued at approximately $471,000.

Other institutional investors have also made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Manulife Financial during the 1st quarter valued at about $243,000. Mackenzie Financial Corp boosted its position in shares of Manulife Financial by 0.9% during the 4th quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock valued at $755,367,000 after acquiring an additional 230,105 shares in the last quarter. Affinity Wealth Management LLC acquired a new stake in shares of Manulife Financial during the 1st quarter valued at about $3,934,000. Intact Investment Management Inc. boosted its position in shares of Manulife Financial by 17.2% during the 1st quarter. Intact Investment Management Inc. now owns 2,527,925 shares of the financial services provider's stock valued at $78,780,000 after acquiring an additional 370,570 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Manulife Financial during the 1st quarter valued at about $431,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.

Manulife Financial Stock Performance

Shares of NYSE MFC traded up $0.6650 during trading on Friday, reaching $30.7250. The company had a trading volume of 1,586,158 shares, compared to its average volume of 2,574,389. Manulife Financial Corp has a 52 week low of $25.92 and a 52 week high of $33.07. The stock has a market cap of $52.19 billion, a PE ratio of 13.72, a PEG ratio of 1.00 and a beta of 1.01. The business's 50 day moving average price is $30.87 and its 200-day moving average price is $30.56.

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 earnings per share 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 company had revenue of $11.30 billion during the quarter. During the same period in the previous year, the company posted $0.91 earnings per share. Equities analysts anticipate that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 annualized dividend and a dividend yield of 4.2%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio is presently 56.70%.

Analyst Ratings Changes

MFC has been the topic of several recent research reports. Royal Bank Of Canada decreased their target price on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a report on Monday, August 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $48.50.

Manulife Financial Company 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.