Manulife Financial Corp (NYSE:MFC) Shares Bought by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has increased its stake in Manulife Financial Corp by 0.5%, owning approximately 4.34% of the company, valued at over $2.3 billion as of the latest SEC filing.
• Manulife Financial reported a missed earnings target for the last quarter with an EPS of $0.69, below the expected $0.71, alongside a revenue of $11.3 billion.
• The company announced an increase in its quarterly dividend to $0.3199 per share, reflecting an annualized yield of 4.3% and a dividend payout ratio of 67.02%.

Vanguard Group Inc. raised its position in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 0.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 74,333,649 shares of the financial services provider's stock after buying an additional 369,638 shares during the quarter. Vanguard Group Inc. owned about 4.34% of Manulife Financial worth $2,316,162,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MFC. JCIC Asset Management Inc. grew its stake in Manulife Financial by 5.6% in the 1st quarter. JCIC Asset Management Inc. now owns 6,749 shares of the financial services provider's stock valued at $210,000 after acquiring an additional 360 shares during the last quarter. Blair William & Co. IL lifted its holdings in Manulife Financial by 1.9% in the 1st quarter. Blair William & Co. IL now owns 19,878 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 377 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Manulife Financial by 3.0% in the 1st quarter. Pacer Advisors Inc. now owns 15,405 shares of the financial services provider's stock valued at $480,000 after purchasing an additional 444 shares in the last quarter. Napatree Capital LLC lifted its holdings in Manulife Financial by 4.7% in the 1st quarter. Napatree Capital LLC now owns 10,279 shares of the financial services provider's stock valued at $320,000 after purchasing an additional 465 shares in the last quarter. Finally, Ancora Advisors LLC lifted its holdings in Manulife Financial by 34.7% in the 4th quarter. Ancora Advisors LLC now owns 1,943 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 500 shares in the last quarter. 52.56% of the stock is owned by institutional investors and hedge funds.

Manulife Financial Trading Up 0.1%

MFC stock opened at $30.11 on Friday. Manulife Financial Corp has a twelve month low of $24.77 and a twelve month high of $33.07. The company has a market capitalization of $51.14 billion, a P/E ratio of 13.44, a PEG ratio of 1.02 and a beta of 1.01. The firm has a 50 day simple moving average of $31.20 and a 200-day simple moving average of $30.55.

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 EPS for the quarter, missing analysts' consensus estimates of $0.71 by ($0.02). The business 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 company posted $0.91 earnings per share. On average, research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current year.

Manulife Financial Increases Dividend

The business 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 is an increase from Manulife Financial's previous quarterly dividend of $0.32. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Wednesday, August 20th. Manulife Financial's dividend payout ratio (DPR) is presently 67.02%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Royal Bank Of Canada reduced their target price on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a report on Friday. Morgan Stanley set a $46.00 price objective on shares of Manulife Financial in a report on Monday, May 19th.

Manulife Financial Company 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.

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