Invst LLC Has $1.11 Million Position in Manulife Financial Corp $MFC

Key Points

• Invst LLC has increased its stake in Manulife Financial Corp by 60.0%, now owning 35,769 shares valued at approximately $1.11 million.
• Manulife Financial recently declared a quarterly dividend of $0.3199 per share, which is an increase from the previous quarter's dividend and represents a yield of 4.0%.
• Analysts have mixed views on Manulife Financial, with target prices ranging from $49.00 to $48.00, while the stock currently trades around $31.80.

Invst LLC boosted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 60.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,769 shares of the financial services provider's stock after buying an additional 13,417 shares during the period. Invst LLC's holdings in Manulife Financial were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Manulife Financial by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 74,333,649 shares of the financial services provider's stock valued at $2,316,162,000 after purchasing an additional 369,638 shares during the period. TD Asset Management Inc increased its holdings in Manulife Financial by 6.6% in the first quarter. TD Asset Management Inc now owns 37,093,064 shares of the financial services provider's stock valued at $1,155,639,000 after purchasing an additional 2,289,205 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Manulife Financial by 0.9% in the fourth quarter. Mackenzie Financial Corp now owns 24,614,416 shares of the financial services provider's stock valued at $755,367,000 after buying an additional 230,105 shares during the period. 1832 Asset Management L.P. grew its position in shares of Manulife Financial by 7.3% during the 1st quarter. 1832 Asset Management L.P. now owns 24,425,465 shares of the financial services provider's stock worth $760,853,000 after buying an additional 1,660,626 shares during the period. Finally, Toronto Dominion Bank increased its stake in shares of Manulife Financial by 4.1% in the 4th quarter. Toronto Dominion Bank now owns 22,812,909 shares of the financial services provider's stock valued at $699,948,000 after acquiring an additional 902,466 shares during the last quarter. Institutional investors and hedge funds own 52.56% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MFC shares. Royal Bank Of Canada reduced their price objective on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Morgan Stanley set a $48.00 price target on shares of Manulife Financial in a research report on Monday, August 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $48.50.

Manulife Financial Trading Down 1.1%

Shares of MFC stock traded down $0.35 during trading hours on Wednesday, hitting $31.14. 645,213 shares of the company were exchanged, compared to its average volume of 2,285,233. Manulife Financial Corp has a 52 week low of $25.92 and a 52 week high of $33.07. The business has a 50 day moving average of $30.73 and a two-hundred day moving average of $30.65. The company has a market capitalization of $52.77 billion, a PE ratio of 13.91, a PEG ratio of 1.08 and a beta of 0.99.

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). The company had revenue of $11.30 billion during the quarter. Manulife Financial had a return on equity of 15.77% and a net margin of 10.46%.During the same period in the previous year, the firm posted $0.91 earnings per share. On average, research analysts forecast that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be paid a $0.3199 dividend. This represents a $1.28 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, August 20th. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio (DPR) is presently 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.