Davis Rea LTD. acquired a new position in shares of Manulife Financial Co. (NYSE:MFC) (TSE:MFC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 10,186 shares of the financial services provider’s stock, valued at approximately $172,000.
Several other large investors have also recently made changes to their positions in the stock. Acima Private Wealth LLC bought a new position in Manulife Financial during the fourth quarter valued at about $25,000. Mackey Komara & Dankovich LLC bought a new position in Manulife Financial during the fourth quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. bought a new position in Manulife Financial during the fourth quarter valued at about $30,000. Enlightenment Research LLC bought a new position in Manulife Financial during the fourth quarter valued at about $30,000. Finally, CWM LLC raised its holdings in Manulife Financial by 69.4% during the fourth quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock valued at $33,000 after buying an additional 942 shares in the last quarter. Institutional investors and hedge funds own 48.42% of the company’s stock.
Shares of Manulife Financial stock traded up $0.18 during trading on Thursday, reaching $17.96. The company’s stock had a trading volume of 2,657,299 shares, compared to its average volume of 2,155,275. The firm has a market capitalization of $37.41 billion, a PE ratio of 8.51, a PEG ratio of 0.81 and a beta of 1.37. Manulife Financial Co. has a one year low of $13.33 and a one year high of $19.63.
Manulife Financial (NYSE:MFC) (TSE:MFC) last posted its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. The business had revenue of $6.44 billion for the quarter. Manulife Financial had a return on equity of 13.51% and a net margin of 12.34%. During the same quarter in the previous year, the firm posted $0.59 earnings per share. On average, analysts predict that Manulife Financial Co. will post 2.19 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 27th were paid a $0.1883 dividend. The ex-dividend date was Tuesday, February 26th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 4.19%. Manulife Financial’s payout ratio is presently 36.02%.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, March 26th. Barclays restated a “buy” rating on shares of Manulife Financial in a report on Thursday, January 10th. Finally, ValuEngine upgraded Manulife Financial from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $24.33.
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Manulife Financial 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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