Vontobel Holding Ltd. trimmed its stake in Manulife Financial Co. (NYSE:MFC - Free Report) TSE: MFC by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 414,659 shares of the financial services provider's stock after selling 41,300 shares during the period. Vontobel Holding Ltd.'s holdings in Manulife Financial were worth $12,253,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Grove Bank & Trust bought a new position in shares of Manulife Financial in the 2nd quarter worth $25,000. West Financial Advisors LLC bought a new position in Manulife Financial in the third quarter valued at $26,000. Bruce G. Allen Investments LLC raised its position in Manulife Financial by 73.6% during the first quarter. Bruce G. Allen Investments LLC now owns 1,156 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 490 shares in the last quarter. Addison Advisors LLC lifted its stake in Manulife Financial by 77.2% during the second quarter. Addison Advisors LLC now owns 1,072 shares of the financial services provider's stock worth $29,000 after purchasing an additional 467 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Manulife Financial by 119.0% in the 2nd quarter. HHM Wealth Advisors LLC now owns 1,104 shares of the financial services provider's stock worth $29,000 after purchasing an additional 600 shares in the last quarter. 52.56% of the stock is owned by hedge funds and other institutional investors.
Shares of MFC stock opened at $30.67 on Thursday. The company has a market capitalization of $54.88 billion, a P/E ratio of 17.83, a PEG ratio of 1.09 and a beta of 1.08. Manulife Financial Co. has a fifty-two week low of $17.07 and a fifty-two week high of $30.67. The stock has a 50 day moving average price of $28.03 and a two-hundred day moving average price of $26.31.
Manulife Financial (NYSE:MFC - Get Free Report) TSE: MFC last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.27. Manulife Financial had a net margin of 9.18% and a return on equity of 16.16%. The business had revenue of $9.41 billion during the quarter, compared to analysts' expectations of $8.95 billion. During the same quarter in the prior year, the company posted $0.62 EPS. As a group, equities analysts predict that Manulife Financial Co. will post 2.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Wednesday, August 21st were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.16 dividend on an annualized basis and a yield of 3.78%. Manulife Financial's dividend payout ratio is presently 66.86%.
A number of equities analysts recently weighed in on the company. Barclays started coverage on Manulife Financial in a report on Thursday, September 5th. They set an "equal weight" rating on the stock. Dbs Bank upgraded shares of Manulife Financial to a "strong-buy" rating in a report on Thursday, August 8th. Finally, TD Securities increased their target price on shares of Manulife Financial from $38.00 to $40.00 and gave the company a "buy" rating in a report on Friday, June 28th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Manulife Financial presently has a consensus rating of "Buy" and a consensus target price of $35.67.
Read Our Latest Research Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Manulife Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manulife Financial wasn't on the list.
While Manulife Financial currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.