Manulife Financial Corp $MFC Shares Sold by Corient Private Wealth LP

Corient Private Wealth LP lowered its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 51.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,147 shares of the financial services provider's stock after selling 53,268 shares during the period. Corient Private Wealth LP's holdings in Manulife Financial were worth $2,031,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Canerector Inc. lifted its stake in shares of Manulife Financial by 27.0% in the first quarter. Canerector Inc. now owns 800,000 shares of the financial services provider's stock worth $28,000 after acquiring an additional 170,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Manulife Financial by 183.7% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,702,230 shares of the financial services provider's stock worth $402,969,000 after purchasing an additional 7,577,711 shares during the last quarter. Swiss National Bank grew its stake in Manulife Financial by 25.7% in the first quarter. Swiss National Bank now owns 5,645,600 shares of the financial services provider's stock worth $194,191,000 after purchasing an additional 1,154,200 shares in the last quarter. Bank of America Corp DE acquired a new position in Manulife Financial in the second quarter worth about $145,177,000. Finally, The Manufacturers Life Insurance Company bought a new stake in Manulife Financial in the second quarter valued at about $92,762,000. Institutional investors and hedge funds own 52.56% of the company's stock.

Wall Street Analysts Forecast Growth

MFC has been the topic of a number of research analyst reports. TD Securities reaffirmed a "buy" rating on shares of Manulife Financial in a report on Thursday, August 6th. BMO Capital Markets reiterated an "outperform" rating on shares of Manulife Financial in a report on Friday, August 7th. Royal Bank Of Canada raised their price objective on 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 raised shares of Manulife Financial from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 2nd. 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 equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $59.00.

Manulife Financial Stock Down 1.2%

Shares of NYSE:MFC opened at $43.62 on Thursday. The company's 50-day moving average price is $43.69 and its 200 day moving average price is $40.05. The company has a market cap of $72.38 billion, a PE ratio of 16.28 and a beta of 0.83. Manulife Financial Corp has a fifty-two week low of $30.52 and a fifty-two week high of $45.33.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last posted its earnings results on Wednesday, August 5th. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.78 by $0.01. The firm had revenue of $2.22 billion during the quarter, compared to analysts' expectations of $7.28 billion. Manulife Financial had a net margin of 9.99% and a return on equity of 16.68%. Manulife Financial's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, equities analysts anticipate that Manulife Financial Corp will post 3 EPS for the current year.

Manulife Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 21st. Shareholders of record on Friday, August 21st were given a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, August 21st. Manulife Financial's payout ratio is 51.49%.

About Manulife Financial

Manulife Financial Corporation is a Canada-based financial services company that provides insurance, wealth management and asset management products to individuals, businesses and institutional clients. Its offerings include life and health insurance, retirement solutions, investment products, group benefits and long-term care coverage.

Manulife serves customers primarily in Canada, the United States and Asia. In the United States, its insurance and retirement businesses operate under the John Hancock brand.

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