Value Partners Investments Inc. Purchases 1,510,314 Shares of Manulife Financial Corp $MFC

Key Points

• Value Partners Investments Inc. significantly increased its investment in Manulife Financial Corp by acquiring an additional 1,510,314 shares, raising its stake by 16,609.6% during the 2nd quarter.
• Manulife Financial recently declared a quarterly dividend of $0.3199 per share, marking a positive change from the previous dividend, with a dividend yield of 4.0%.
• Analysts have set a consensus target price of $48.50 for Manulife Financial, with two analysts rating the stock as a Buy.

Value Partners Investments Inc. lifted its stake in shares of Manulife Financial Corp (NYSE:MFC - Free Report) TSE: MFC by 16,609.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,519,407 shares of the financial services provider's stock after buying an additional 1,510,314 shares during the quarter. Manulife Financial comprises 3.8% of Value Partners Investments Inc.'s portfolio, making the stock its 11th largest position. Value Partners Investments Inc. owned approximately 0.09% of Manulife Financial worth $48,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC purchased a new position in shares of Manulife Financial during the fourth quarter valued at about $35,000. William B. Walkup & Associates Inc. purchased a new position in shares of Manulife Financial during the first quarter valued at about $43,000. NBC Securities Inc. increased its position in shares of Manulife Financial by 178,700.0% during the first quarter. NBC Securities Inc. now owns 1,788 shares of the financial services provider's stock valued at $55,000 after buying an additional 1,787 shares during the period. Opal Wealth Advisors LLC purchased a new position in shares of Manulife Financial during the first quarter valued at about $59,000. Finally, Alpine Bank Wealth Management purchased a new position in shares of Manulife Financial during the first quarter valued at about $71,000. Hedge funds and other institutional investors own 52.56% of the company's stock.

Analyst Ratings Changes

MFC has been the topic of several research analyst reports. Royal Bank Of Canada reduced their price target on shares of Manulife Financial from $51.00 to $49.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Morgan Stanley set a $48.00 price objective on shares of Manulife Financial in a research report on Monday, August 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $48.50.

Manulife Financial Stock Up 0.9%

MFC traded up $0.30 during trading on Friday, hitting $31.69. The company's stock had a trading volume of 905,895 shares, compared to its average volume of 2,284,482. The firm has a market cap of $53.69 billion, a PE ratio of 14.15, a P/E/G ratio of 1.04 and a beta of 0.99. Manulife Financial Corp has a one year low of $25.92 and a one year high of $33.07. The business's 50 day simple moving average is $30.76 and its 200-day simple moving average is $30.65.

Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.02). The firm had revenue of $11.30 billion for the quarter. Manulife Financial had a net margin of 10.46% and a return on equity of 15.77%. During the same quarter last year, the firm earned $0.91 EPS. Equities research analysts expect that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.3199 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.0%. 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 payout ratio is 56.70%.

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.