First Republic Investment Management Inc. Increases Stock Position in Manulife Financial Co. (NYSE:MFC)

First Republic Investment Management Inc. boosted its position in Manulife Financial Co. (NYSE:MFCGet Rating) (TSE:MFC) by 6.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,132,642 shares of the financial services provider’s stock after purchasing an additional 71,159 shares during the period. First Republic Investment Management Inc. owned about 0.06% of Manulife Financial worth $17,749,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. purchased a new position in Manulife Financial in the third quarter valued at about $25,000. Tsfg LLC grew its holdings in Manulife Financial by 145.7% during the third quarter. Tsfg LLC now owns 1,693 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 1,004 shares during the period. Artemis Wealth Advisors LLC purchased a new stake in Manulife Financial in the second quarter worth $30,000. Ronald Blue Trust Inc. raised its stake in shares of Manulife Financial by 100.7% in the third quarter. Ronald Blue Trust Inc. now owns 1,736 shares of the financial services provider’s stock valued at $30,000 after buying an additional 871 shares during the period. Finally, Grayhawk Investment Strategies Inc. purchased a new position in shares of Manulife Financial during the 2nd quarter valued at $69,000. Hedge funds and other institutional investors own 43.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on MFC shares. StockNews.com assumed coverage on Manulife Financial in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays dropped their price target on shares of Manulife Financial from C$30.00 to C$29.00 in a research note on Wednesday, October 12th. National Bank Financial reduced their price objective on shares of Manulife Financial from C$25.00 to C$24.00 in a research note on Friday, October 28th. Finally, Credit Suisse Group began coverage on shares of Manulife Financial in a report on Thursday, January 12th. They set a “neutral” rating on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manulife Financial currently has an average rating of “Hold” and an average target price of $28.86.

Manulife Financial Price Performance

MFC opened at $19.24 on Wednesday. The firm has a market capitalization of $35.88 billion, a P/E ratio of 6.54, a price-to-earnings-growth ratio of 0.81 and a beta of 1.12. Manulife Financial Co. has a one year low of $14.92 and a one year high of $22.19. The company has a fifty day moving average price of $18.04 and a 200-day moving average price of $17.46.

Manulife Financial (NYSE:MFCGet Rating) (TSE:MFC) last issued its quarterly earnings results on Wednesday, November 9th. The financial services provider reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $11.51 billion. On average, analysts expect that Manulife Financial Co. will post 2.27 earnings per share for the current year.

Manulife Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Tuesday, November 22nd were paid a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date was Monday, November 21st. Manulife Financial’s payout ratio is 32.99%.

Manulife Financial Company Profile

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Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, 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 provides mutual funds and exchange-traded funds, group retirement and savings products, and institutional asset management services through agents and brokers affiliated with the company, securities brokerage firms, and financial advisors pension plan consultants and banks.

See Also

Institutional Ownership by Quarter for Manulife Financial (NYSE:MFC)

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