Caliber Wealth Management LLC KS Has $402,000 Position in Manulife Financial Corp $MFC

Caliber Wealth Management LLC KS lifted its stake in Manulife Financial Corp (NYSE:MFC) (TSE:MFC) by 3.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,578 shares of the financial services provider’s stock after purchasing an additional 452 shares during the period. Caliber Wealth Management LLC KS’s holdings in Manulife Financial were worth $402,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eastern Bank increased its holdings in shares of Manulife Financial by 156.1% in the second quarter. Eastern Bank now owns 968 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 590 shares in the last quarter. William B. Walkup & Associates Inc. bought a new stake in Manulife Financial during the 1st quarter worth about $43,000. Oliver Lagore Vanvalin Investment Group bought a new stake in Manulife Financial during the 2nd quarter worth about $55,000. Carderock Capital Management Inc. bought a new stake in Manulife Financial during the 2nd quarter worth about $58,000. Finally, Kozak & Associates Inc. bought a new stake in Manulife Financial during the 2nd quarter worth about $61,000. Institutional investors and hedge funds own 52.56% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group assumed coverage on Manulife Financial in a report on Thursday, October 16th. They set a “buy” rating for the company. Weiss Ratings reissued a “buy (a-)” rating on shares of Manulife Financial in a report on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on Manulife Financial from $51.00 to $49.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Finally, Morgan Stanley set a $47.00 price target on Manulife Financial in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $48.00.

Manulife Financial Stock Performance

Shares of MFC opened at $31.88 on Thursday. The stock has a 50 day simple moving average of $31.21 and a 200 day simple moving average of $30.91. Manulife Financial Corp has a 52-week low of $25.92 and a 52-week high of $33.07. The firm has a market capitalization of $54.01 billion, a PE ratio of 14.23, a P/E/G ratio of 1.10 and a beta of 0.98.

Manulife Financial (NYSE:MFC) (TSE:MFC) last issued its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $0.69 earnings per share (EPS) 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 15.77%. The business had revenue of $11.30 billion during the quarter. During the same period in the previous year, the company earned $0.91 EPS. Equities research analysts predict that Manulife Financial Corp will post 2.87 EPS for the current fiscal year.

Manulife Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Wednesday, August 20th were given a dividend of $0.3199 per share. This is an increase from Manulife Financial’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $1.28 dividend on an annualized basis and a yield of 4.0%. Manulife Financial’s payout ratio is currently 56.70%.

About Manulife Financial

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.