Waratah Capital Advisors Ltd. lessened its stake in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 25.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 878,859 shares of the financial services provider’s stock after selling 294,387 shares during the quarter. Manulife Financial accounts for about 1.8% of Waratah Capital Advisors Ltd.’s holdings, making the stock its 15th biggest position. Waratah Capital Advisors Ltd.’s holdings in Manulife Financial were worth $16,126,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the business. FMR LLC grew its stake in Manulife Financial by 26.7% in the first quarter. FMR LLC now owns 7,705 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 1,624 shares in the last quarter. Wetherby Asset Management Inc. raised its holdings in shares of Manulife Financial by 5.5% during the 2nd quarter. Wetherby Asset Management Inc. now owns 29,380 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 1,544 shares in the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Manulife Financial in the 2nd quarter valued at $138,000. Virginia Retirement Systems ET AL boosted its holdings in Manulife Financial by 9.0% in the second quarter. Virginia Retirement Systems ET AL now owns 1,501,200 shares of the financial services provider’s stock worth $27,342,000 after purchasing an additional 124,300 shares in the last quarter. Finally, Heathbridge Capital Management Ltd. boosted its holdings in Manulife Financial by 1.1% in the second quarter. Heathbridge Capital Management Ltd. now owns 1,573,500 shares of the financial services provider’s stock worth $28,615,000 after purchasing an additional 17,800 shares in the last quarter. Institutional investors own 46.70% of the company’s stock.
Shares of MFC stock traded down $0.51 during trading hours on Tuesday, reaching $19.10. 87,390 shares of the company’s stock were exchanged, compared to its average volume of 1,761,937. Manulife Financial Co. has a fifty-two week low of $13.33 and a fifty-two week high of $20.08. The stock has a market capitalization of $38.35 billion, a P/E ratio of 9.03, a P/E/G ratio of 0.88 and a beta of 1.43. The business has a fifty day moving average price of $19.18 and a 200-day moving average price of $18.03.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.55 by $0.21. Manulife Financial had a return on equity of 12.86% and a net margin of 6.45%. The firm had revenue of $17.14 billion during the quarter. During the same period last year, the company earned $0.75 EPS. Equities research analysts forecast that Manulife Financial Co. will post 2.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Tuesday, November 19th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.98%. This is a positive change from Manulife Financial’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Monday, November 18th. Manulife Financial’s dividend payout ratio is presently 36.02%.
A number of research analysts recently weighed in on the company. Canaccord Genuity raised their price objective on Manulife Financial from $32.00 to $33.00 in a research note on Monday, October 28th. Zacks Investment Research downgraded shares of Manulife Financial from a “buy” rating to a “hold” rating and set a $20.00 price objective for the company. in a report on Friday. Finally, ValuEngine upgraded shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 30th.
Manulife Financial Company Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions in Asia, Canada, and the United States. The company offers individual life, and individual and group long-term care insurance; and guaranteed and partially guaranteed annuity products through insurance agents, brokers, banks, financial planners, and direct marketing.
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