Galibier Capital Management Ltd. raised its position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) by 6.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,858,564 shares of the financial services provider’s stock after acquiring an additional 112,748 shares during the period. Manulife Financial makes up approximately 12.0% of Galibier Capital Management Ltd.’s holdings, making the stock its biggest holding. Galibier Capital Management Ltd. owned 0.10% of Manulife Financial worth $37,780,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Endurance Wealth Management Inc. raised its holdings in shares of Manulife Financial by 22.8% in the fourth quarter. Endurance Wealth Management Inc. now owns 483,153 shares of the financial services provider’s stock worth $9,803,000 after buying an additional 89,630 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Manulife Financial in the fourth quarter worth $61,000. Hexavest Inc. raised its holdings in shares of Manulife Financial by 487.2% in the fourth quarter. Hexavest Inc. now owns 2,825,145 shares of the financial services provider’s stock worth $57,429,000 after buying an additional 2,344,016 shares during the last quarter. Weather Gauge Advisory LLC raised its holdings in shares of Manulife Financial by 1.0% in the fourth quarter. Weather Gauge Advisory LLC now owns 78,413 shares of the financial services provider’s stock worth $1,591,000 after buying an additional 781 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. raised its holdings in shares of Manulife Financial by 6.7% during the third quarter. Beutel Goodman & Co Ltd. now owns 12,316,897 shares of the financial services provider’s stock worth $225,942,000 after purchasing an additional 775,353 shares during the last quarter. Institutional investors own 46.77% of the company’s stock.
MFC traded down $0.05 on Tuesday, reaching $21.03. The stock had a trading volume of 89,731 shares, compared to its average volume of 1,427,877. Manulife Financial Co. has a 12-month low of $15.41 and a 12-month high of $21.23. The business’s 50-day moving average price is $19.94 and its two-hundred day moving average price is $18.55. The company has a market cap of $41.15 billion, a P/E ratio of 9.97, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, November 6th. The financial services provider reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.21. Manulife Financial had a net margin of 6.45% and a return on equity of 12.86%. The company had revenue of $17.14 billion during the quarter. During the same period in the previous year, the firm posted $0.75 EPS. Analysts predict that Manulife Financial Co. will post 2.25 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Tuesday, November 19th were issued a $0.19 dividend. This is a boost from Manulife Financial’s previous quarterly dividend of $0.19. The ex-dividend date was Monday, November 18th. This represents a $0.76 dividend on an annualized basis and a yield of 3.61%. Manulife Financial’s payout ratio is presently 36.02%.
Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Manulife Financial from a “buy” rating to a “hold” rating and set a $20.00 target price for the company. in a report on Friday, November 29th. Barclays raised their target price on shares of Manulife Financial from $27.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday. ValuEngine cut shares of Manulife Financial from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Canaccord Genuity raised their target price on shares of Manulife Financial from $32.00 to $33.00 in a report on Monday, October 28th. Finally, CIBC reissued a “buy” rating and set a $29.00 target price on shares of Manulife Financial in a report on Wednesday, December 11th.
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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