Manulife Financial Corp $MFC Shares Bought by Hsbc Holdings PLC

Key Points

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Hsbc Holdings PLC lifted its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,520,840 shares of the financial services provider's stock after purchasing an additional 176,948 shares during the period. Hsbc Holdings PLC owned about 0.38% of Manulife Financial worth $203,155,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MFC. Brighton Jones LLC lifted its position in shares of Manulife Financial by 33.9% during the fourth quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock worth $288,000 after purchasing an additional 2,376 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Manulife Financial during the fourth quarter worth about $2,256,000. Raymond James Financial Inc. bought a new position in shares of Manulife Financial during the fourth quarter worth about $16,213,000. Rockefeller Capital Management L.P. bought a new position in shares of Manulife Financial during the fourth quarter worth about $372,000. Finally, Guggenheim Capital LLC lifted its position in shares of Manulife Financial by 23.7% during the fourth quarter. Guggenheim Capital LLC now owns 8,486 shares of the financial services provider's stock worth $261,000 after purchasing an additional 1,624 shares during the last quarter. Institutional investors own 52.56% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research report on Monday, August 18th. Royal Bank Of Canada reduced their price target 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. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Manulife Financial has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Manulife Financial Trading Up 2.2%

MFC traded up $0.6650 on Friday, hitting $30.7250. 1,586,158 shares of the company's stock were exchanged, compared to its average volume of 2,601,139. The firm has a market cap of $52.19 billion, a PE ratio of 13.72, a P/E/G ratio of 1.03 and a beta of 1.01. Manulife Financial Corp has a twelve month low of $25.92 and a twelve month high of $33.07. The stock has a fifty day moving average of $30.87 and a two-hundred day moving average of $30.57.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last released 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). The business had revenue of $11.30 billion for the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same quarter last year, the business posted $0.91 EPS. On average, analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

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

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.