BlackRock Inc. increased its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 14.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,438,510 shares of the financial services provider's stock after buying an additional 300,869 shares during the quarter. BlackRock Inc. owned about 0.15% of Manulife Financial worth $98,784,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the business. Basepoint Wealth LLC acquired a new position in Manulife Financial during the 4th quarter worth $25,000. Hantz Financial Services Inc. acquired a new position in shares of Manulife Financial during the fourth quarter valued at $28,000. Sfam LLC bought a new stake in shares of Manulife Financial during the fourth quarter valued at about $28,000. Heritage Wealth Advisors bought a new stake in shares of Manulife Financial during the fourth quarter valued at about $30,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in Manulife Financial in the first quarter worth about $29,000. 52.56% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating on shares of Manulife Financial in a research report on Friday, August 7th. TD Securities restated a "buy" rating on shares of Manulife Financial in a research report on Thursday, August 6th. Royal Bank Of Canada upped their price target on shares of Manulife Financial from $55.00 to $67.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Zacks Research cut shares of Manulife Financial from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings upgraded shares of Manulife Financial from a "buy (a-)" rating to a "buy (a)" rating in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and an average target price of $59.00.
View Our Latest Research Report on Manulife Financial
Manulife Financial Trading Down 0.8%
Shares of Manulife Financial stock opened at $42.82 on Friday. The company's 50-day moving average price is $42.72 and its two-hundred day moving average price is $39.08. Manulife Financial Corp has a 52 week low of $30.20 and a 52 week high of $45.33. The stock has a market cap of $71.16 billion, a PE ratio of 15.98 and a beta of 0.84.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its quarterly earnings data on Wednesday, August 5th. The financial services provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. On average, equities analysts predict that Manulife Financial Corp will post 3.03 EPS for the current fiscal year.
Manulife Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 21st. Investors of record on Friday, August 21st will be issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Friday, August 21st. Manulife Financial's dividend payout ratio (DPR) is presently 51.49%.
Manulife Financial Company Profile
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Free Report)
Manulife Financial Corporation is a multinational insurance and financial services company headquartered in Toronto, Ontario. Founded in the late 19th century as The Manufacturers Life Insurance Company, Manulife provides a broad range of financial products and services to individual and institutional clients. Its core businesses include life and health insurance, retirement and pension solutions, wealth and asset management, and group benefits.
In wealth and asset management, Manulife operates through Manulife Investment Management and offers mutual funds, segregated funds, institutional asset management, and retirement plan solutions.
See Also
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