Manulife Financial Corp $MFC Shares Bought by Hsbc Holdings PLC

Key Points

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Hsbc Holdings PLC raised its position in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,520,840 shares of the financial services provider's stock after acquiring an additional 176,948 shares during the quarter. Hsbc Holdings PLC owned approximately 0.38% of Manulife Financial worth $203,155,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MFC. Wellington Management Group LLP grew its holdings in Manulife Financial by 8.5% in the 1st quarter. Wellington Management Group LLP now owns 707,993 shares of the financial services provider's stock valued at $22,058,000 after buying an additional 55,263 shares in the last quarter. Korea Investment CORP raised its position in Manulife Financial by 11.4% in the first quarter. Korea Investment CORP now owns 1,630,836 shares of the financial services provider's stock valued at $50,809,000 after purchasing an additional 166,592 shares during the period. Northern Trust Corp grew its stake in shares of Manulife Financial by 6.5% in the first quarter. Northern Trust Corp now owns 2,225,406 shares of the financial services provider's stock worth $69,321,000 after acquiring an additional 135,477 shares in the last quarter. Algert Global LLC acquired a new position in shares of Manulife Financial in the first quarter worth $890,000. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Manulife Financial by 5.8% in the first quarter. Northwest & Ethical Investments L.P. now owns 516,568 shares of the financial services provider's stock worth $16,106,000 after acquiring an additional 28,204 shares in the last quarter. 52.56% of the stock is currently owned by hedge funds and other institutional investors.

Manulife Financial Trading Up 2.2%

Shares of NYSE MFC traded up $0.6650 on Friday, reaching $30.7250. 1,586,158 shares of the company traded hands, compared to its average volume of 2,574,389. Manulife Financial Corp has a fifty-two week low of $25.92 and a fifty-two week high of $33.07. The stock has a market capitalization of $52.19 billion, a PE ratio of 13.72, a P/E/G ratio of 1.00 and a beta of 1.01. The company has a 50 day moving average of $30.87 and a 200 day moving average of $30.56.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last issued its earnings results on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) 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 firm had revenue of $11.30 billion for the quarter. During the same period in the prior year, the firm earned $0.91 EPS. As a group, research analysts expect that Manulife Financial Corp will post 2.87 earnings per share for the current year.

Manulife Financial Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently issued reports on MFC. Royal Bank Of Canada decreased their price objective 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 price objective on shares of Manulife Financial in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Manulife Financial currently has an average rating of "Moderate Buy" and an average target price 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.