Heritage Financial Services LLC Invests $471,000 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 stake in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,107 shares of the financial services provider's stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. JCIC Asset Management Inc. increased its holdings in Manulife Financial by 5.6% in the first quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock valued at $210,000 after purchasing an additional 360 shares during the last quarter. Blair William & Co. IL raised its stake in Manulife Financial by 1.9% during the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock worth $619,000 after buying an additional 377 shares during the period. Pacer Advisors Inc. raised its stake in Manulife Financial by 3.0% during the 1st quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider's stock worth $480,000 after buying an additional 444 shares during the period. Napatree Capital LLC lifted its holdings in Manulife Financial by 4.7% during the first quarter. Napatree Capital LLC now owns 10,279 shares of the financial services provider's stock worth $320,000 after acquiring an additional 465 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in Manulife Financial by 34.7% in the fourth quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 500 shares during the period. 52.56% of the stock is currently owned by institutional investors.

Manulife Financial Price Performance

MFC stock traded down $0.5640 during midday trading on Monday, hitting $30.1760. The company's stock had a trading volume of 618,837 shares, compared to its average volume of 2,329,548. The company's fifty day moving average price is $30.87 and its 200 day moving average price is $30.57. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07. The stock has a market capitalization of $51.26 billion, a P/E ratio of 13.48, a PEG ratio of 1.03 and a beta of 1.01.

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

Manulife Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be paid a dividend of $0.3199 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 dividend on an annualized basis and a dividend 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 currently 56.70%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MFC shares. Royal Bank Of Canada cut their price objective on Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday, August 8th. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research note 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's stock. According to MarketBeat, Manulife Financial has an average rating of "Moderate Buy" and an average price target of $48.50.

Manulife Financial 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.