KMG Fiduciary Partners LLC bought a new position in Manulife Financial Co. (NYSE:MFC) (TSE:MFC) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,495 shares of the financial services provider’s stock, valued at approximately $211,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Acima Private Wealth LLC acquired a new stake in shares of Manulife Financial during the 4th quarter worth approximately $25,000. Mackey Komara & Dankovich LLC acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $30,000. Enlightenment Research LLC acquired a new stake in Manulife Financial in the 4th quarter valued at approximately $30,000. Finally, CWM LLC grew its stake in shares of Manulife Financial by 69.4% in the fourth quarter. CWM LLC now owns 2,300 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 942 shares in the last quarter. 48.40% of the stock is currently owned by institutional investors and hedge funds.
MFC has been the subject of a number of research reports. Zacks Investment Research raised shares of Manulife Financial from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Tuesday, March 26th. Barclays reissued a “buy” rating on shares of Manulife Financial in a research report on Thursday, January 10th. Finally, ValuEngine raised shares of Manulife Financial from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $24.33.
Manulife Financial (NYSE:MFC) (TSE:MFC) last released its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. Manulife Financial had a net margin of 12.34% and a return on equity of 13.51%. The company had revenue of $6.44 billion during the quarter. During the same period in the previous year, the company earned $0.59 EPS. Sell-side analysts forecast that Manulife Financial Co. will post 2.19 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Wednesday, February 27th were given a $0.1883 dividend. This represents a $0.75 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, February 26th. Manulife Financial’s payout ratio is currently 36.02%.
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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