LPL Financial LLC Has $17.86 Million Position in Manulife Financial Corp (NYSE:MFC)

Key Points

• LPL Financial LLC increased its stake in Manulife Financial Corp by 1.9%, owning 573,236 shares worth approximately $17.86 million as of its latest SEC filing.
• Manulife Financial recently declared a quarterly dividend of $0.3194 per share, increasing its annualized dividend to $1.28, with a yield of 4.1%.
• Despite a missed earnings estimate of $0.70 EPS, Manulife Financial reported $0.69 EPS for the quarter ending May 7, alongside a revenue of $1.49 billion.

LPL Financial LLC boosted its holdings in Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 1.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 573,236 shares of the financial services provider's stock after acquiring an additional 10,496 shares during the period. LPL Financial LLC's holdings in Manulife Financial were worth $17,856,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in MFC. Brighton Jones LLC boosted its position in shares of Manulife Financial by 33.9% during the 4th quarter. Brighton Jones LLC now owns 9,393 shares of the financial services provider's stock valued at $288,000 after purchasing an additional 2,376 shares in the last quarter. Wellington Management Group LLP grew its position in Manulife Financial by 1.3% in the fourth quarter. Wellington Management Group LLP now owns 652,730 shares of the financial services provider's stock worth $20,042,000 after buying an additional 8,128 shares during the last quarter. World Investment Advisors grew its position in Manulife Financial by 23.3% in the fourth quarter. World Investment Advisors now owns 15,223 shares of the financial services provider's stock worth $467,000 after buying an additional 2,872 shares during the last quarter. FIL Ltd increased its holdings in shares of Manulife Financial by 21.7% in the fourth quarter. FIL Ltd now owns 39,610,614 shares of the financial services provider's stock valued at $1,216,880,000 after buying an additional 7,053,066 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Manulife Financial during the 4th quarter valued at $2,256,000. 52.56% of the stock is owned by institutional investors.

Manulife Financial Trading Up 0.1%

Manulife Financial stock traded up $0.04 on Friday, reaching $30.11. 2,689,836 shares of the stock were exchanged, compared to its average volume of 2,294,510. Manulife Financial Corp has a twelve month low of $24.77 and a twelve month high of $33.07. The firm has a fifty day moving average price of $31.23 and a two-hundred day moving average price of $30.56. The stock has a market cap of $51.29 billion, a PE ratio of 13.44, a PEG ratio of 1.05 and a beta of 1.01.

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 the consensus estimate of $0.71 by ($0.02). Manulife Financial had a net margin of 10.46% and a return on equity of 15.67%. The business had revenue of $11.30 billion for the quarter. During the same period last year, the firm posted $0.91 EPS. Equities analysts anticipate that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th will be given a $0.3199 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $1.28 annualized dividend and a yield of 4.3%. This is a positive change from Manulife Financial's previous quarterly dividend of $0.32. Manulife Financial's dividend payout ratio (DPR) is 67.02%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MFC shares. Royal Bank Of Canada cut their target price on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating for the company in a research report on Friday. Morgan Stanley set a $46.00 price target on shares of Manulife Financial in a research note 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.